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2021-12-18

High risk high gain

Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote>

2021-12-17

Sure create confusion with tpg mobile

抱歉，原内容已删除

2021-12-17

So when can start bargain hunting?

抱歉，原内容已删除

2021-12-03

Can consider when it drops lower

抱歉，原内容已删除

2021-11-27

Interesting, wait and see if it drops more so can go bargain hunting

Why Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote>

2021-11-26

Kimly result is good

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2021-11-07

Amd is dark horse

抱歉，原内容已删除

2021-11-05

Strong

Nvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote>

2021-10-22

[微笑]

抱歉，原内容已删除

2021-10-22

Good

抱歉，原内容已删除

2021-10-21

No

Is Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote>

2021-10-21

Yes

Emotional Perceptions Shouldn’t Drive Your Carnival Stock Decision<blockquote>情绪认知不应驱动您的嘉年华股票决策</blockquote>

2021-10-20

[财迷]

U.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote>

2021-10-20

Unreal

抱歉，原内容已删除

2021-10-20

[财迷]

Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance<blockquote>雅培早盘涨近4%，公布好于预期的第三季度财报并上调指引</blockquote>

2021-10-14

[微笑]

抱歉，原内容已删除

2021-10-12

Wait for the dip

Nvidia Is Set To Turn Into A Cash Machine<blockquote>英伟达将变成提款机</blockquote>

2021-10-12

[财迷]

Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>

2021-10-10

Waiting for the crash

Morgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote>

2021-10-09

Wow

WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote>

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risk high gain","listText":"High risk high gain","text":"High risk high gain","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699125633","repostId":"1125012423","repostType":4,"repost":{"id":"1125012423","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639751833,"share":"https://www.laohu8.com/m/news/1125012423?lang=zh_CN&edition=full","pubTime":"2021-12-17 22:37","market":"us","language":"en","title":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125012423","media":"Tiger Newspress","summary":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.It highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.\"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC","content":"<p>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.<img src=\"https://static.tigerbbs.com/f2cd2f9985fc84125cde2f76f0e9f403\" tg-width=\"764\" tg-height=\"567\" width=\"100%\" height=\"auto\">It&nbsp;highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.</p><p><blockquote>Rivian警告供应问题将影响2021年产量，该公司早盘股价下跌超过12%。它强调了在提高产量以对抗电动汽车领导者特斯拉公司时可能面临的挑战。</blockquote></p><p> Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.</p><p><blockquote>Rivian还宣布计划建造一座耗资50亿美元的工厂以提高产能，同时指出尽管每周收到约2,000份预订订单，但仍面临生产挑战。</blockquote></p><p> \"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.</p><p><blockquote>加拿大皇家银行资本市场分析师Joseph Spak表示：“我们不想过多解读近期问题……但这确实凸显了Rivian有很多事情要做的风险。”</blockquote></p><p> The company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.</p><p><blockquote>该公司预计，由于供应链限制，产量将比2021年1200辆的目标“少几百辆”。</blockquote></p><p> Increasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.</p><p><blockquote>首席执行官RJ Scaringe表示，在几个月内增加R1T卡车、R1S SUV和亚马逊送货车的产量将类似于“一个非常复杂的管弦乐队”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote></title>\n<style 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smaller\">2021-12-17 22:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.<img src=\"https://static.tigerbbs.com/f2cd2f9985fc84125cde2f76f0e9f403\" tg-width=\"764\" tg-height=\"567\" width=\"100%\" height=\"auto\">It&nbsp;highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.</p><p><blockquote>Rivian警告供应问题将影响2021年产量，该公司早盘股价下跌超过12%。它强调了在提高产量以对抗电动汽车领导者特斯拉公司时可能面临的挑战。</blockquote></p><p> Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.</p><p><blockquote>Rivian还宣布计划建造一座耗资50亿美元的工厂以提高产能，同时指出尽管每周收到约2,000份预订订单，但仍面临生产挑战。</blockquote></p><p> \"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.</p><p><blockquote>加拿大皇家银行资本市场分析师Joseph Spak表示：“我们不想过多解读近期问题……但这确实凸显了Rivian有很多事情要做的风险。”</blockquote></p><p> The company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.</p><p><blockquote>该公司预计，由于供应链限制，产量将比2021年1200辆的目标“少几百辆”。</blockquote></p><p> Increasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.</p><p><blockquote>首席执行官RJ Scaringe表示，在几个月内增加R1T卡车、R1S SUV和亚马逊送货车的产量将类似于“一个非常复杂的管弦乐队”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125012423","content_text":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.It highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.\nRivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.\n\"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.\nThe company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.\nIncreasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.","news_type":1,"symbols_score_info":{"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":2428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690739608,"gmtCreate":1639707165701,"gmtModify":1639708354181,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Sure create confusion with tpg mobile","listText":"Sure create confusion with tpg mobile","text":"Sure create confusion with tpg mobile","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690739608","repostId":"1159478375","repostType":4,"isVote":1,"tweetType":1,"viewCount":2470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690792393,"gmtCreate":1639706845910,"gmtModify":1639708183644,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"So when can start bargain hunting?&nbsp;","listText":"So when can start bargain hunting?&nbsp;","text":"So when can start bargain hunting?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690792393","repostId":"2192920942","repostType":4,"isVote":1,"tweetType":1,"viewCount":2561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601370459,"gmtCreate":1638494648164,"gmtModify":1638496862998,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Can consider when it drops lower","listText":"Can consider when it drops lower","text":"Can consider when it drops lower","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601370459","repostId":"2188951783","repostType":2,"isVote":1,"tweetType":1,"viewCount":2645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877469784,"gmtCreate":1637973488421,"gmtModify":1637979358756,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Interesting, wait and see if it drops more so can go bargain hunting","listText":"Interesting, wait and see if it drops more so can go bargain hunting","text":"Interesting, wait and see if it drops more so can go bargain hunting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877469784","repostId":"1177270358","repostType":4,"repost":{"id":"1177270358","kind":"news","pubTimestamp":1637972840,"share":"https://www.laohu8.com/m/news/1177270358?lang=zh_CN&edition=full","pubTime":"2021-11-27 08:27","market":"us","language":"en","title":"Why Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177270358","media":"Motley Fool","summary":"What happened\nShares of all the major U.S. bank stocks struggled today, along with the Dow Jones Ind","content":"<p>What happened</p><p><blockquote>发生了什么</blockquote></p><p> Shares of all the major U.S. bank stocks struggled today, along with the&nbsp;<b>Dow Jones Industrial Average</b>, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.</p><p><blockquote>今天，美国所有主要银行股的股价都陷入困境，<b>道琼斯工业平均指数</b>在这个缩短的交易日中，该指数一度下跌1,000点，这是该指数2021年全年最严重的跌幅。</blockquote></p><p> Shares of America's largest bank by assets,<b>JPMorgan Chase</b>(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,<b>Bank of America</b>(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down&nbsp;<b>Citigroup</b>(NYSE:C)had fallen more than 3%, and&nbsp;<b>Wells Fargo</b>(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.</p><p><blockquote>美国资产规模最大的银行的股票，<b>摩根大通</b>（纽约证券交易所股票代码：JPM）截至中午12:30下跌3.4%。美国东部时间，而美国第二大银行的股价，<b>美国银行</b>（纽约证券交易所代码：BAC），跌幅超过4%。与此同时，越受打击<b>花旗集团</b>(NYSE：C)下跌超过3%，并且<b>富国银行</b>（纽约证券交易所股票代码：WFC）下跌超过5%。对于更稳定的大盘股来说，这些都是每日大幅波动。</blockquote></p><p> So what</p><p><blockquote>那又怎样</blockquote></p><p> While Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.</p><p><blockquote>当美国人正在享受感恩节大餐时，多家媒体报道称，南非出现了一种新的冠状病毒变种，称为B.1.1.529变种。</blockquote></p><p> Scientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company&nbsp;<b>Merck</b>, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.</p><p><blockquote>科学家报告说，该菌株的刺突蛋白有30多个突变，刺突蛋白是病毒附着在人体细胞上的部分。这明显比德尔塔变异毒株的突变多。雪上加霜的是，药企<b>默克</b>该公司一直在开发一种抗病毒药物，用于在人们感染病毒后治疗更严重的COVID-19病例，该公司透露，该药物的治疗效果并不像最初希望的那样有效。</blockquote></p><p> The variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.</p><p><blockquote>这一变异消息引起了全球的强烈反应，世界卫生组织召开了紧急会议进行讨论。此外，欧盟提议禁止来自南非的航班。人们对B.1.1.529变种的病例有多严重知之甚少，但早期的知识让科学家和专家非常担忧。</blockquote></p><p> \"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.</p><p><blockquote>预防医学教授威廉·沙夫纳(William Schaffner)表示：“如果我们有另一种比达美病毒更容易传播的新冠病毒株，那将对我们世界各地的所有人构成挑战，因为当达美病毒今年夏天到来时，它改变了游戏规则。”范德比尔特大学今天告诉CNBC。</blockquote></p><p> Banksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.</p><p><blockquote>银行与经济密切相关，因为它们放贷并与经济中的大多数部门互动。因此，每当一个新的变种出现并威胁增加病例时，这个行业就会受到打击，因为投资者担心未来潜在的封锁、经济增长停滞以及潜在的贷款质量担忧。</blockquote></p><p> The news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.</p><p><blockquote>这一消息也是在市场已经岌岌可危的时候发布的，过去几周，市场一直在应对更强劲的通胀环境、不断上升的债券收益率以及美联储明年可能上调基准联邦基金利率的情绪日益高涨。</blockquote></p><p> Furthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.</p><p><blockquote>此外，拉斯伯恩投资管理公司联席首席投资官爱德华·史密斯表示，与通胀的斗争可能会使联邦政府更难应对新一波严重的冠状病毒。</blockquote></p><p> \"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he told<i>The Wall Street Journal</i>. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.</p><p><blockquote>“这是令人担忧的一大原因：考虑到通胀，这次政策是否能够应对并救助市场和经济？”他告诉<i>华尔街日报</i>.史密斯还表示，更多的封锁或限制可能会继续增加全球供应链问题，并加剧通胀。</blockquote></p><p> Now what</p><p><blockquote>现在怎么办</blockquote></p><p> While I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.</p><p><blockquote>虽然我认为全球对这种新变种的强烈反应是有道理的，但我还没有准备好恐慌。我们仍然不知道它有多严重，也不知道它是否能逃避疫苗。</blockquote></p><p> I also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great&nbsp;buying opportunity.</p><p><blockquote>考虑到这些大型美国银行股在2020年大流行期间的表现，我对它们也非常有信心。他们都拥有强大的资本水平和大量的流动性，这让我对他们能够度过另一场低迷充满信心。特别是，花旗集团的回调（其交易价格已经处于低迷水平）在我看来是一个绝佳的买入机会。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-11-27 08:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What happened</p><p><blockquote>发生了什么</blockquote></p><p> Shares of all the major U.S. bank stocks struggled today, along with the&nbsp;<b>Dow Jones Industrial Average</b>, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.</p><p><blockquote>今天，美国所有主要银行股的股价都陷入困境，<b>道琼斯工业平均指数</b>在这个缩短的交易日中，该指数一度下跌1,000点，这是该指数2021年全年最严重的跌幅。</blockquote></p><p> Shares of America's largest bank by assets,<b>JPMorgan Chase</b>(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,<b>Bank of America</b>(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down&nbsp;<b>Citigroup</b>(NYSE:C)had fallen more than 3%, and&nbsp;<b>Wells Fargo</b>(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.</p><p><blockquote>美国资产规模最大的银行的股票，<b>摩根大通</b>（纽约证券交易所股票代码：JPM）截至中午12:30下跌3.4%。美国东部时间，而美国第二大银行的股价，<b>美国银行</b>（纽约证券交易所代码：BAC），跌幅超过4%。与此同时，越受打击<b>花旗集团</b>(NYSE：C)下跌超过3%，并且<b>富国银行</b>（纽约证券交易所股票代码：WFC）下跌超过5%。对于更稳定的大盘股来说，这些都是每日大幅波动。</blockquote></p><p> So what</p><p><blockquote>那又怎样</blockquote></p><p> While Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.</p><p><blockquote>当美国人正在享受感恩节大餐时，多家媒体报道称，南非出现了一种新的冠状病毒变种，称为B.1.1.529变种。</blockquote></p><p> Scientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company&nbsp;<b>Merck</b>, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.</p><p><blockquote>科学家报告说，该菌株的刺突蛋白有30多个突变，刺突蛋白是病毒附着在人体细胞上的部分。这明显比德尔塔变异毒株的突变多。雪上加霜的是，药企<b>默克</b>该公司一直在开发一种抗病毒药物，用于在人们感染病毒后治疗更严重的COVID-19病例，该公司透露，该药物的治疗效果并不像最初希望的那样有效。</blockquote></p><p> The variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.</p><p><blockquote>这一变异消息引起了全球的强烈反应，世界卫生组织召开了紧急会议进行讨论。此外，欧盟提议禁止来自南非的航班。人们对B.1.1.529变种的病例有多严重知之甚少，但早期的知识让科学家和专家非常担忧。</blockquote></p><p> \"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.</p><p><blockquote>预防医学教授威廉·沙夫纳(William Schaffner)表示：“如果我们有另一种比达美病毒更容易传播的新冠病毒株，那将对我们世界各地的所有人构成挑战，因为当达美病毒今年夏天到来时，它改变了游戏规则。”范德比尔特大学今天告诉CNBC。</blockquote></p><p> Banksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.</p><p><blockquote>银行与经济密切相关，因为它们放贷并与经济中的大多数部门互动。因此，每当一个新的变种出现并威胁增加病例时，这个行业就会受到打击，因为投资者担心未来潜在的封锁、经济增长停滞以及潜在的贷款质量担忧。</blockquote></p><p> The news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.</p><p><blockquote>这一消息也是在市场已经岌岌可危的时候发布的，过去几周，市场一直在应对更强劲的通胀环境、不断上升的债券收益率以及美联储明年可能上调基准联邦基金利率的情绪日益高涨。</blockquote></p><p> Furthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.</p><p><blockquote>此外，拉斯伯恩投资管理公司联席首席投资官爱德华·史密斯表示，与通胀的斗争可能会使联邦政府更难应对新一波严重的冠状病毒。</blockquote></p><p> \"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he told<i>The Wall Street Journal</i>. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.</p><p><blockquote>“这是令人担忧的一大原因：考虑到通胀，这次政策是否能够应对并救助市场和经济？”他告诉<i>华尔街日报</i>.史密斯还表示，更多的封锁或限制可能会继续增加全球供应链问题，并加剧通胀。</blockquote></p><p> Now what</p><p><blockquote>现在怎么办</blockquote></p><p> While I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.</p><p><blockquote>虽然我认为全球对这种新变种的强烈反应是有道理的，但我还没有准备好恐慌。我们仍然不知道它有多严重，也不知道它是否能逃避疫苗。</blockquote></p><p> I also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great&nbsp;buying opportunity.</p><p><blockquote>考虑到这些大型美国银行股在2020年大流行期间的表现，我对它们也非常有信心。他们都拥有强大的资本水平和大量的流动性，这让我对他们能够度过另一场低迷充满信心。特别是，花旗集团的回调（其交易价格已经处于低迷水平）在我看来是一个绝佳的买入机会。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/11/26/why-shares-of-wells-fargo-citigroup-bank-of-americ/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","BAC":"美国银行","C":"花旗","WFC":"富国银行"},"source_url":"https://www.fool.com/investing/2021/11/26/why-shares-of-wells-fargo-citigroup-bank-of-americ/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177270358","content_text":"What happened\nShares of all the major U.S. bank stocks struggled today, along with the Dow Jones Industrial Average, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.\nShares of America's largest bank by assets,JPMorgan Chase(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,Bank of America(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down Citigroup(NYSE:C)had fallen more than 3%, and Wells Fargo(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.\nSo what\nWhile Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.\nScientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company Merck, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.\nThe variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.\n\"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.\nBanksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.\nThe news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.\nFurthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.\n\"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he toldThe Wall Street Journal. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.\nNow what\nWhile I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.\nI also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great buying opportunity.","news_type":1,"symbols_score_info":{"BAC":0.9,"C":0.9,"WFC":0.9,"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":3246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877363068,"gmtCreate":1637889122582,"gmtModify":1637889122582,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Kimly result is good","listText":"Kimly result is good","text":"Kimly result is good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/877363068","repostId":"1143359507","repostType":4,"isVote":1,"tweetType":1,"viewCount":4330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845996956,"gmtCreate":1636260094468,"gmtModify":1636260094616,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Amd is dark horse","listText":"Amd is dark horse","text":"Amd is dark horse","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/845996956","repostId":"2181774208","repostType":4,"isVote":1,"tweetType":1,"viewCount":3153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846633321,"gmtCreate":1636076712605,"gmtModify":1636076712710,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Strong","listText":"Strong","text":"Strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/846633321","repostId":"1120921072","repostType":4,"repost":{"id":"1120921072","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1636033171,"share":"https://www.laohu8.com/m/news/1120921072?lang=zh_CN&edition=full","pubTime":"2021-11-04 21:39","market":"us","language":"en","title":"Nvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120921072","media":"Tiger Newspress","summary":"Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading","content":"<p>Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading</p><p><blockquote>英伟达股价早盘涨超3%创新高</blockquote></p><p> <img src=\"https://static.tigerbbs.com/91f537d50834f0a84524b9b13559b91e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-04 21:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading</p><p><blockquote>英伟达股价早盘涨超3%创新高</blockquote></p><p> <img src=\"https://static.tigerbbs.com/91f537d50834f0a84524b9b13559b91e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120921072","content_text":"Nvidia shares rose more than 3% to a new high in morning trading","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":3592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":851654309,"gmtCreate":1634906964931,"gmtModify":1634907710277,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851654309","repostId":"1130370622","repostType":4,"isVote":1,"tweetType":1,"viewCount":3816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853706242,"gmtCreate":1634833610023,"gmtModify":1634867890774,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853706242","repostId":"2177654604","repostType":4,"isVote":1,"tweetType":1,"viewCount":2743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853267076,"gmtCreate":1634816435956,"gmtModify":1634816800372,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853267076","repostId":"1126974417","repostType":4,"repost":{"id":"1126974417","kind":"news","pubTimestamp":1634814957,"share":"https://www.laohu8.com/m/news/1126974417?lang=zh_CN&edition=full","pubTime":"2021-10-21 19:15","market":"us","language":"en","title":"Is Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126974417","media":"Motley Fool","summary":"Earlier this year,Amazon.com(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos woul","content":"<p>Earlier this year,<b>Amazon.com</b>(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.</p><p><blockquote>今年早些时候，<b>亚马逊</b>（纳斯达克：AMZN）出人意料地宣布，创始人杰夫·贝索斯将从2021年第三季度开始辞去公司首席执行官一职。亚马逊表示，此前领导该公司快速增长的云计算业务的安迪·贾西(Andy Jassy)将执掌该公司。</blockquote></p><p> With Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.</p><p><blockquote>随着贝佐斯的集体行为兑现，压力来了。下周，当这家电子商务巨头公布第三季度业绩时，投资者将看到该公司在贾西担任公司首席执行官的第一个季度的领导下表现如何。</blockquote></p><p> Ahead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the&nbsp;growth stock&nbsp;may be attractive going into the update.</p><p><blockquote>在亚马逊重要的第三季度更新之前，这里是收益报告的预览，以及成长型股票在更新中是否具有吸引力。</blockquote></p><p> Amazon earnings: what to watch</p><p><blockquote>亚马逊收益：值得关注</blockquote></p><p> When the&nbsp;e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.</p><p><blockquote>当这家电子商务和云计算专家下周四公布财报时，投资者将密切关注亚马逊能否与一年前的艰难比较相媲美，当时由于世界各地许多消费者都躲在家里，亚马逊的收入正在飙升。</blockquote></p><p> In Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.</p><p><blockquote>在亚马逊第二季度财报发布中，管理层预计第三季度营收在1060亿美元至1120亿美元之间。这意味着收入增长率为10%至16%，较上一季度27%的增长和去年同期37%的增长显着放缓。</blockquote></p><p> Analysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.</p><p><blockquote>分析师似乎基本上认为亚马逊指导范围的中点过于保守。平均而言，分析师预测第三季度收入将处于该公司指导范围的高端。</blockquote></p><p> Is Amazon stock a buy today?</p><p><blockquote>亚马逊股票今天值得买入吗？</blockquote></p><p> While the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.</p><p><blockquote>虽然该公司报告的收入增长率肯定值得检查，但许多投资者可能想到的一个更大的问题是，该股今天是否值得买入。</blockquote></p><p> While it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.</p><p><blockquote>虽然无法知道这家电子商务巨头的股价在短期内甚至在该公司第三季度财报发布后将走向何方，但投资者可以看看亚马逊股票的估值，看看它相对于亚马逊股票的估值是否具有吸引力。这家电子商务巨头的长期潜力。</blockquote></p><p> Despite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.</p><p><blockquote>尽管该公司的市值超过1.7万亿美元，令人震惊，但在这个水平上，股票看起来值得买入。考虑到亚马逊约60的市盈率实际上相当便宜，考虑到该公司的营收表现和稳步扩大的营业利润率。</blockquote></p><p> With strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.</p><p><blockquote>凭借强劲的收入增长和不断扩大的营业利润率，亚马逊的商业模式正在展现出巨大的运营杠杆。这意味着从长远来看，每股收益的增长可能会快于收入的增长。事实上，分析师们的预期正是如此。目前评级分析师普遍预测，未来五年亚马逊每股收益将以平均年化37%的速度增长。</blockquote></p><p> Given management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.</p><p><blockquote>鉴于管理层对第三季度收入强劲两位数增长的指导——尽管亚马逊面临着与去年同期的艰难比较——以及该公司明确的运营杠杆，亚马逊股票今天看起来是一个不错的长期买入。</blockquote></p><p> Of course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.</p><p><blockquote>当然，投资者应该密切关注亚马逊的营收增长率。如果减速速度快于预期，这可能意味着分析师（和投资者）高估了该公司的长期潜力。</blockquote></p><p> Amazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.</p><p><blockquote>亚马逊第三季度报告定于10月28日星期四收盘后发布。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-21 19:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earlier this year,<b>Amazon.com</b>(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.</p><p><blockquote>今年早些时候，<b>亚马逊</b>（纳斯达克：AMZN）出人意料地宣布，创始人杰夫·贝索斯将从2021年第三季度开始辞去公司首席执行官一职。亚马逊表示，此前领导该公司快速增长的云计算业务的安迪·贾西(Andy Jassy)将执掌该公司。</blockquote></p><p> With Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.</p><p><blockquote>随着贝佐斯的集体行为兑现，压力来了。下周，当这家电子商务巨头公布第三季度业绩时，投资者将看到该公司在贾西担任公司首席执行官的第一个季度的领导下表现如何。</blockquote></p><p> Ahead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the&nbsp;growth stock&nbsp;may be attractive going into the update.</p><p><blockquote>在亚马逊重要的第三季度更新之前，这里是收益报告的预览，以及成长型股票在更新中是否具有吸引力。</blockquote></p><p> Amazon earnings: what to watch</p><p><blockquote>亚马逊收益：值得关注</blockquote></p><p> When the&nbsp;e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.</p><p><blockquote>当这家电子商务和云计算专家下周四公布财报时，投资者将密切关注亚马逊能否与一年前的艰难比较相媲美，当时由于世界各地许多消费者都躲在家里，亚马逊的收入正在飙升。</blockquote></p><p> In Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.</p><p><blockquote>在亚马逊第二季度财报发布中，管理层预计第三季度营收在1060亿美元至1120亿美元之间。这意味着收入增长率为10%至16%，较上一季度27%的增长和去年同期37%的增长显着放缓。</blockquote></p><p> Analysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.</p><p><blockquote>分析师似乎基本上认为亚马逊指导范围的中点过于保守。平均而言，分析师预测第三季度收入将处于该公司指导范围的高端。</blockquote></p><p> Is Amazon stock a buy today?</p><p><blockquote>亚马逊股票今天值得买入吗？</blockquote></p><p> While the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.</p><p><blockquote>虽然该公司报告的收入增长率肯定值得检查，但许多投资者可能想到的一个更大的问题是，该股今天是否值得买入。</blockquote></p><p> While it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.</p><p><blockquote>虽然无法知道这家电子商务巨头的股价在短期内甚至在该公司第三季度财报发布后将走向何方，但投资者可以看看亚马逊股票的估值，看看它相对于亚马逊股票的估值是否具有吸引力。这家电子商务巨头的长期潜力。</blockquote></p><p> Despite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.</p><p><blockquote>尽管该公司的市值超过1.7万亿美元，令人震惊，但在这个水平上，股票看起来值得买入。考虑到亚马逊约60的市盈率实际上相当便宜，考虑到该公司的营收表现和稳步扩大的营业利润率。</blockquote></p><p> With strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.</p><p><blockquote>凭借强劲的收入增长和不断扩大的营业利润率，亚马逊的商业模式正在展现出巨大的运营杠杆。这意味着从长远来看，每股收益的增长可能会快于收入的增长。事实上，分析师们的预期正是如此。目前评级分析师普遍预测，未来五年亚马逊每股收益将以平均年化37%的速度增长。</blockquote></p><p> Given management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.</p><p><blockquote>鉴于管理层对第三季度收入强劲两位数增长的指导——尽管亚马逊面临着与去年同期的艰难比较——以及该公司明确的运营杠杆，亚马逊股票今天看起来是一个不错的长期买入。</blockquote></p><p> Of course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.</p><p><blockquote>当然，投资者应该密切关注亚马逊的营收增长率。如果减速速度快于预期，这可能意味着分析师（和投资者）高估了该公司的长期潜力。</blockquote></p><p> Amazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.</p><p><blockquote>亚马逊第三季度报告定于10月28日星期四收盘后发布。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/21/is-amazon-stock-a-buy-ahead-of-earnings/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.fool.com/investing/2021/10/21/is-amazon-stock-a-buy-ahead-of-earnings/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126974417","content_text":"Earlier this year,Amazon.com(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.\nWith Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.\nAhead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the growth stock may be attractive going into the update.\nAmazon earnings: what to watch\nWhen the e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.\nIn Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.\nAnalysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.\nIs Amazon stock a buy today?\nWhile the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.\nWhile it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.\nDespite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.\nWith strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.\nGiven management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.\nOf course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.\nAmazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1067,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853264259,"gmtCreate":1634816385893,"gmtModify":1634816800199,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853264259","repostId":"1128718132","repostType":4,"repost":{"id":"1128718132","kind":"news","pubTimestamp":1634815763,"share":"https://www.laohu8.com/m/news/1128718132?lang=zh_CN&edition=full","pubTime":"2021-10-21 19:29","market":"us","language":"en","title":"Emotional Perceptions Shouldn’t Drive Your Carnival Stock Decision<blockquote>情绪认知不应驱动您的嘉年华股票决策</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128718132","media":"InvestorPlace","summary":"CCL stock's made a nice recovery but a rise in bookings is stoking investor FOMO.\n\nEarly in the pand","content":"<p><div> CCL stock's made a nice recovery but a rise in bookings is stoking investor FOMO.  Early in the pandemic, there was a certain logic to buying shares of Carnival. If you had a tolerance for risk and ...</p><p><blockquote><div>CCL股票复苏良好，但预订量的增加引发了投资者的FOMO。在疫情初期，购买嘉年华股票是有一定逻辑的。如果你能承受风险...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Emotional Perceptions Shouldn’t Drive Your Carnival Stock Decision<blockquote>情绪认知不应驱动您的嘉年华股票决策</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEmotional Perceptions Shouldn’t Drive Your Carnival Stock Decision<blockquote>情绪认知不应驱动您的嘉年华股票决策</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-10-21 19:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> CCL stock's made a nice recovery but a rise in bookings is stoking investor FOMO.  Early in the pandemic, there was a certain logic to buying shares of Carnival. If you had a tolerance for risk and ...</p><p><blockquote><div>CCL股票复苏良好，但预订量的增加引发了投资者的FOMO。在疫情初期，购买嘉年华股票是有一定逻辑的。如果你能承受风险...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮"},"source_url":"https://investorplace.com/2021/10/ccl-stock-requires-rational-not-emotional-response/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128718132","content_text":"CCL stock's made a nice recovery but a rise in bookings is stoking investor FOMO.\n\nEarly in the pandemic, there was a certain logic to buying shares of Carnival. If you had a tolerance for risk and the ability to wait, buying CCL stock at a bargain price was a no-brainer. Today, the stock price is 172% higher and the decision to buy can become an emotional one.\nI’d caution you to keep your emotions in check. At this time, CCL stock seems fairly valued. And while I lay out my reasoning below, first it’s time to take a look at where Carnival was before the pandemic.\nFor all of 2019 Carnival delivered $20.89 billion in revenue. The stock price at the beginning of the year was $50.05. At the end of the year, CCL stock traded for $51.33. That’s not much movement. And if you go back to January 2018, the stock was in a steady decline.\nWhy? In 2018, Carnival delivered earnings per share (EPS) of $4.26 on revenue of $18.89 billion. For all of 2019, EPS was $4.40 on revenue of $20.89 billion. That tells me that investors and analysts weren’t all that pleased about how the company was going before the pandemic.\nAnd that changes the narrative just a little bit. Cruise line stocks were oversold, with good reason, in 2020. The cruise lines weren’t allowed to sail. It wasn’t that their choice. Investors of all risk tolerances made the wise decision to put their capital to better use.\nHowever, some savvy risk-tolerant investors sensed a buying opportunity. And they made a nice gain if they did. Now the company is reportingstrong bookings for 2022and beyond and some investors are becoming bullish on the stock. Should they be or is it just FOMO, a fear of missing out?\nOld Rules Still Apply (Sort Of)\nIn the days before the pandemic, cruise line stocks were evaluated on things like forward bookings. And that’s what has some investors — andInvestorPlacecontributor Mark Hake —bullish about CCL stock. In providing investors with his opinion and research, Hake points out that in Carnival’s fiscal 2022 (November), the company expects to earn $17.32 billion in revenue. And when you compare that to the $2.56 billion the company is expecting this year, that’s impressive.\nHake gives CCL stock a price target of $32 per share “based on a P/E multiple of 15.9 times 2023 forecast earnings.” Hake’s reasoning is sound if you believe that Carnival will generate the revenue they forecast. But with Carnival’s high debt level it’s unlikely that the company will generate earnings anywhere near the $4.40 it generated in 2019.\nHowever, as we’ve seen throughout this pandemic, few things are predictable. There may still behurdles related to Covid-19. There could be a loss of revenue due to vaccine mandates. The economy is already showing signs of slowing down.\nI’m not rooting for any of these things to happen. But then again if I had my choice we wouldn’t still be dealing with a worldwide pandemic.\nHold Off on CCL Stock Until Revenue Becomes Real\nI know that many investors will say that I’m an idiot for not looking at 2022 bookings. I am looking at them. I’m also looking at a calendar that says 2021. After the last 18 months, I don’t see that as pessimistic, I see it as realistic for consideration on CCL stock moves.\nIn the end, people will go on cruises or they won’t. There’s really not much reason to speculate one way or the other. The best thing investors can do is wait on the data. If the revenue comes in as expected then Carnival stock is a bargain. If not, then CCL stock is overvalued.\nCarnival stock has made a nice recovery. It would be unfair for the stock to be trading at its pandemic lows. But that doesn’t mean that it needs to go any higher right now. Let Carnival show you that people are actually cruising.","news_type":1,"symbols_score_info":{"CCL":0.9}},"isVote":1,"tweetType":1,"viewCount":782,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853092918,"gmtCreate":1634740139470,"gmtModify":1634764484238,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853092918","repostId":"1152302737","repostType":4,"repost":{"id":"1152302737","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634736641,"share":"https://www.laohu8.com/m/news/1152302737?lang=zh_CN&edition=full","pubTime":"2021-10-20 21:30","market":"us","language":"en","title":"U.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1152302737","media":"Tiger Newspress","summary":"(Oct 20) Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected","content":"<p>(Oct 20)&nbsp;Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.</p><p><blockquote>（10月20日）股市周三小幅走高，投资者看到一批强于预期的盈利结果，对企业利润轨迹越来越乐观，即使面临持续的供应链限制。</blockquote></p><p> The S&amp;P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.</p><p><blockquote>标普500开盘后上涨约0.2%。该蓝筹股指数周二连续第五个交易日收高，创下自8月份以来最长的连涨纪录。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc股价下跌19.3%，此前Politico的一份报告称，该公司在证明其能够生产符合监管机构质量标准的实验性COVID-19疫苗方面面临重大障碍，导致生产延迟。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a1d075d53e550deb563849714e43b3b\" tg-width=\"1048\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the <a href=\"https://laohu8.com/S/BITO\">ProShares Bitcoin Strategy ETF</a> (BITO), rose by nearly 5% in its public debut on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange on Tuesday.</p><p><blockquote>比特币（BTC）价格升至64,000美元以上，收于历史新高。在有史以来第一只比特币期货交易所交易基金（或<a href=\"https://laohu8.com/S/BITO\">ProShares比特币策略ETF</a>（BITO）在上市时上涨近5%<a href=\"https://laohu8.com/S/NWY\">纽约</a>周二证券交易所。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NFLX\">Netflix</a> fell in early trading despite posting&nbsp;third-quarter earnings and subscriber growth&nbsp;that exceeded Wall Street's expectations. <a href=\"https://laohu8.com/S/UBNK\">United</a> <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss&nbsp;and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>尽管公布的第三季度收益和用户增长超出了华尔街的预期，但早盘交易仍下跌。<a href=\"https://laohu8.com/S/UBNK\">团结的</a><a href=\"https://laohu8.com/S/AIRI\">空气</a>Lines(UAL)的季度亏损小于预期，收入超出预期，但仍比2019年水平低约32%，该公司股价上涨。</blockquote></p><p> These better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter &amp; Gamble and Johnson &amp; Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been nervously monitoring&nbsp;inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.</p><p><blockquote>除了上周大银行以及本周早些时候宝洁和强生等早期记者发布的财报之外，这些好于预期的财报结果有助于缓解交易员对企业利润在第二季度飙升后将大幅放缓的担忧。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>我一直在紧张地监测通胀数据，这些数据显示价格出现了几十年来的最大涨幅，此外还有大量有关劳动力和材料持续短缺以及交付问题的报道。所有这些因素预计都将严重影响企业利润。</blockquote></p><p> \"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like <a href=\"https://laohu8.com/S/QTWO\">Q2</a> was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"</p><p><blockquote>BMO资本市场高级投资策略师Jon Adams对雅虎财经直播表示：“我们认为投资者对盈利预期过于悲观。看起来确实像<a href=\"https://laohu8.com/S/QTWO\">Q2</a>可能是峰值，但第三季度将会强劲，同比[增长]可能会超过30%。”</blockquote></p><p> \"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"</p><p><blockquote>“我们认为这种强势将持续到第四季度，我们并不过度担心利润率，”亚当斯补充道。“我们正在密切关注供应链问题和不断增加的工资压力，但仍然认为利润率处于健康水平，并且还有更多上涨空间。”</blockquote></p><p> Other pundits also suggested price pressures may begin to ease over the coming quarters.</p><p><blockquote>其他专家还表示，未来几个季度价格压力可能会开始缓解。</blockquote></p><p> \"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management,&nbsp;told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"</p><p><blockquote>摩根大通资产管理公司全球市场策略师米拉·潘迪特(Meera Pandit)对雅虎财经直播表示：“我确实认为，随着这些供应链问题在2022年得到缓解，我们也将开始看到通胀从较高水平放缓。”“这不会完全是暂时的。像住房、像食品这样的东西——我们已经看到工资上涨了一点。因此，我们将看到比上次扩张期间更高的通胀。但它会从这些水平下降和缓和。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-20 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 20)&nbsp;Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.</p><p><blockquote>（10月20日）股市周三小幅走高，投资者看到一批强于预期的盈利结果，对企业利润轨迹越来越乐观，即使面临持续的供应链限制。</blockquote></p><p> The S&amp;P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.</p><p><blockquote>标普500开盘后上涨约0.2%。该蓝筹股指数周二连续第五个交易日收高，创下自8月份以来最长的连涨纪录。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc股价下跌19.3%，此前Politico的一份报告称，该公司在证明其能够生产符合监管机构质量标准的实验性COVID-19疫苗方面面临重大障碍，导致生产延迟。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a1d075d53e550deb563849714e43b3b\" tg-width=\"1048\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the <a href=\"https://laohu8.com/S/BITO\">ProShares Bitcoin Strategy ETF</a> (BITO), rose by nearly 5% in its public debut on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange on Tuesday.</p><p><blockquote>比特币（BTC）价格升至64,000美元以上，收于历史新高。在有史以来第一只比特币期货交易所交易基金（或<a href=\"https://laohu8.com/S/BITO\">ProShares比特币策略ETF</a>（BITO）在上市时上涨近5%<a href=\"https://laohu8.com/S/NWY\">纽约</a>周二证券交易所。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NFLX\">Netflix</a> fell in early trading despite posting&nbsp;third-quarter earnings and subscriber growth&nbsp;that exceeded Wall Street's expectations. <a href=\"https://laohu8.com/S/UBNK\">United</a> <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss&nbsp;and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>尽管公布的第三季度收益和用户增长超出了华尔街的预期，但早盘交易仍下跌。<a href=\"https://laohu8.com/S/UBNK\">团结的</a><a href=\"https://laohu8.com/S/AIRI\">空气</a>Lines(UAL)的季度亏损小于预期，收入超出预期，但仍比2019年水平低约32%，该公司股价上涨。</blockquote></p><p> These better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter &amp; Gamble and Johnson &amp; Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been nervously monitoring&nbsp;inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.</p><p><blockquote>除了上周大银行以及本周早些时候宝洁和强生等早期记者发布的财报之外，这些好于预期的财报结果有助于缓解交易员对企业利润在第二季度飙升后将大幅放缓的担忧。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>我一直在紧张地监测通胀数据，这些数据显示价格出现了几十年来的最大涨幅，此外还有大量有关劳动力和材料持续短缺以及交付问题的报道。所有这些因素预计都将严重影响企业利润。</blockquote></p><p> \"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like <a href=\"https://laohu8.com/S/QTWO\">Q2</a> was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"</p><p><blockquote>BMO资本市场高级投资策略师Jon Adams对雅虎财经直播表示：“我们认为投资者对盈利预期过于悲观。看起来确实像<a href=\"https://laohu8.com/S/QTWO\">Q2</a>可能是峰值，但第三季度将会强劲，同比[增长]可能会超过30%。”</blockquote></p><p> \"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"</p><p><blockquote>“我们认为这种强势将持续到第四季度，我们并不过度担心利润率，”亚当斯补充道。“我们正在密切关注供应链问题和不断增加的工资压力，但仍然认为利润率处于健康水平，并且还有更多上涨空间。”</blockquote></p><p> Other pundits also suggested price pressures may begin to ease over the coming quarters.</p><p><blockquote>其他专家还表示，未来几个季度价格压力可能会开始缓解。</blockquote></p><p> \"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management,&nbsp;told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"</p><p><blockquote>摩根大通资产管理公司全球市场策略师米拉·潘迪特(Meera Pandit)对雅虎财经直播表示：“我确实认为，随着这些供应链问题在2022年得到缓解，我们也将开始看到通胀从较高水平放缓。”“这不会完全是暂时的。像住房、像食品这样的东西——我们已经看到工资上涨了一点。因此，我们将看到比上次扩张期间更高的通胀。但它会从这些水平下降和缓和。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152302737","content_text":"(Oct 20) Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.\nThe S&P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.\nShares of Novavax Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.\n\nBitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the ProShares Bitcoin Strategy ETF (BITO), rose by nearly 5% in its public debut on the New York Stock Exchange on Tuesday.\nShares of Netflix fell in early trading despite posting third-quarter earnings and subscriber growth that exceeded Wall Street's expectations. United Air Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.\nThese better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter & Gamble and Johnson & Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. Investors have been nervously monitoring inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.\n\"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like Q2 was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"\n\"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"\nOther pundits also suggested price pressures may begin to ease over the coming quarters.\n\"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management, told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853098401,"gmtCreate":1634740089830,"gmtModify":1634764485181,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Unreal","listText":"Unreal","text":"Unreal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853098401","repostId":"2176438191","repostType":4,"isVote":1,"tweetType":1,"viewCount":749,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853098150,"gmtCreate":1634740061899,"gmtModify":1634764484300,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853098150","repostId":"1156713074","repostType":4,"repost":{"id":"1156713074","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634739164,"share":"https://www.laohu8.com/m/news/1156713074?lang=zh_CN&edition=full","pubTime":"2021-10-20 22:12","market":"us","language":"en","title":"Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance<blockquote>雅培早盘涨近4%，公布好于预期的第三季度财报并上调指引</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156713074","media":"Tiger Newspress","summary":"Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financia","content":"<p>Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance.&nbsp;<img src=\"https://static.tigerbbs.com/bfeb401c6818a3fb3790e97e52fc975c\" tg-width=\"765\" tg-height=\"365\" width=\"100%\" height=\"auto\">The company&nbsp;reported quarterly earnings of $1.40 per share, which beat the estimate of 94 cents per share. The company reported quarterly revenue of $10.9 billion, which beat the estimate of $9.54 billion.</p><p><blockquote>雅培早盘上涨近4%，因其公布好于预期的第三季度财务业绩并上调指引。该公司公布的季度收益为每股1.40美元，超出了每股94美分的预期。该公司公布季度营收为109亿美元，超出预期的95.4亿美元。</blockquote></p><p> It&nbsp;raised its full-year 2021 earnings guidance from a range of $4.30 to $4.50 per share to a range of $5 to $5.10 per share versus the estimate of $4.45 per share.&nbsp;</p><p><blockquote>该公司将2021年全年盈利指引从每股4.30美元至4.50美元上调至每股5美元至5.10美元，而预期为每股4.45美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance<blockquote>雅培早盘涨近4%，公布好于预期的第三季度财报并上调指引</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAbbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance<blockquote>雅培早盘涨近4%，公布好于预期的第三季度财报并上调指引</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-20 22:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance.&nbsp;<img src=\"https://static.tigerbbs.com/bfeb401c6818a3fb3790e97e52fc975c\" tg-width=\"765\" tg-height=\"365\" width=\"100%\" height=\"auto\">The company&nbsp;reported quarterly earnings of $1.40 per share, which beat the estimate of 94 cents per share. The company reported quarterly revenue of $10.9 billion, which beat the estimate of $9.54 billion.</p><p><blockquote>雅培早盘上涨近4%，因其公布好于预期的第三季度财务业绩并上调指引。该公司公布的季度收益为每股1.40美元，超出了每股94美分的预期。该公司公布季度营收为109亿美元，超出预期的95.4亿美元。</blockquote></p><p> It&nbsp;raised its full-year 2021 earnings guidance from a range of $4.30 to $4.50 per share to a range of $5 to $5.10 per share versus the estimate of $4.45 per share.&nbsp;</p><p><blockquote>该公司将2021年全年盈利指引从每股4.30美元至4.50美元上调至每股5美元至5.10美元，而预期为每股4.45美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ABT":"雅培"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156713074","content_text":"Abbott rose nearly 4% in morning trading as it announced better-than-expected third-quarter financial results and raised guidance. The company reported quarterly earnings of $1.40 per share, which beat the estimate of 94 cents per share. The company reported quarterly revenue of $10.9 billion, which beat the estimate of $9.54 billion.\nIt raised its full-year 2021 earnings guidance from a range of $4.30 to $4.50 per share to a range of $5 to $5.10 per share versus the estimate of $4.45 per share.","news_type":1,"symbols_score_info":{"ABT":0.9}},"isVote":1,"tweetType":1,"viewCount":848,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822589700,"gmtCreate":1634142240744,"gmtModify":1634176223992,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/822589700","repostId":"1182958686","repostType":4,"isVote":1,"tweetType":1,"viewCount":1050,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826782128,"gmtCreate":1634054357030,"gmtModify":1634089009648,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Wait for the dip","listText":"Wait for the dip","text":"Wait for the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/826782128","repostId":"1174197178","repostType":4,"repost":{"id":"1174197178","kind":"news","pubTimestamp":1634049962,"share":"https://www.laohu8.com/m/news/1174197178?lang=zh_CN&edition=full","pubTime":"2021-10-12 22:46","market":"us","language":"en","title":"Nvidia Is Set To Turn Into A Cash Machine<blockquote>英伟达将变成提款机</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174197178","media":"Seeking Alpha","summary":"Summary\n\nNvidia’s main businesses experience massive momentum as graphics cards sales surge and dema","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Nvidia’s main businesses experience massive momentum as graphics cards sales surge and demand for data centers strengthens.</li>  <li>Strong GPU pricing served to improve Nvidia’s margins in the first six months of the year.</li>  <li>There is significant upside in Nvidia's free cash flow.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/12a40bc61cdb4aabe35ac1e3ed9ae5ac\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>随着显卡销量激增和数据中心需求增强，英伟达的主要业务发展势头强劲。</li><li>强劲的GPU定价提高了英伟达今年前六个月的利润率。</li><li>英伟达的自由现金流有显着的上升空间。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> Nvidia(NASDAQ:NVDA)is one of the world’s best growth stocks to own as gaming and data center revenues continue to soar. I believe Nvidia will grow into a massive cash machine over the next five years with an estimated annual free cash flow of $14.0B or more!</p><p><blockquote>随着游戏和数据中心收入持续飙升，英伟达（纳斯达克股票代码：NVDA）是全球最值得持有的成长型股票之一。我相信Nvidia将在未来五年内成长为一台巨大的提款机，预计每年自由现金流为$140亿或更多！</blockquote></p><p> <b>Why Nvidia is a long term buy</b></p><p><blockquote><b>为什么英伟达值得长期买入</b></blockquote></p><p> Nvidia just produces incredible growth. The firm generated 68% top line growth in the second-quarter, with revenues touching $6.51B due to soaring demand in the gaming and the data center segments. Gaming revenues surged to a record of $3.06B in the second-quarter, showing a year over year increase of 85%, chiefly because of strengthening sales in a severely undersupplied graphics cards market. Data center revenues also surged to a record, $2.37B in Q2’22, showing a year over year growth rate of 35%. With total revenues up by 68% and higher gross margins (66.7% in Q2’22), Nvidia’s commercial performance is getting better and better...</p><p><blockquote>英伟达带来了令人难以置信的增长。由于游戏和数据中心领域的需求飙升，该公司第二季度营收增长了68%，收入达到$6.51 B。第二季度游戏收入飙升至创纪录的$3.06 B，同比增长85%，主要是由于严重供应不足的显卡市场的销售增强。22年第二季度，数据中心收入也飙升至创纪录的$2.37 B，同比增长率为35%。随着总收入增长68%和毛利率更高（22年第二季度为66.7%），英伟达的商业业绩越来越好……</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b1af1b5d7b0be554a0ef5ed7d3b79435\" tg-width=\"742\" tg-height=\"192\" width=\"100%\" height=\"auto\"><span>Source: Nvidia</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：英伟达</span></p></blockquote></p><p> But I don’t believe Nvidia’s business has peaked yet. I believe Nvidia will continue to grow rapidly because of increasing demand for high performance data centers that can handle incredible amounts of workloads and because Nvidia’s largest business by revenues, gaming, is seeing pricing support from end markets. Graphics cards have been flying off the shelf in 2020 and 2021, in part because cryptocurrency miners compete with gamers for GPUs. The result has been that&nbsp;graphics cards are in a shortage, leading to a significant increase in GPU pricing. AMD(NASDAQ:AMD)and Nvidia, the two largest suppliers of high performance graphics processing units, benefit from this trend the most.</p><p><blockquote>但我不认为英伟达的业务已经见顶。我相信Nvidia将继续快速增长，因为对能够处理大量工作负载的高性能数据中心的需求不断增长，而且Nvidia按收入计算最大的业务游戏正在获得终端市场的定价支持。显卡在2020年和2021年大量下架，部分原因是加密货币矿工与游戏玩家争夺GPU。结果是显卡供不应求，导致GPU价格大幅上涨。AMD（纳斯达克股票代码：AMD）和英伟达这两家最大的高性能图形处理单元供应商从这一趋势中受益最多。</blockquote></p><p> Top-tier graphics cards like AMD’s Radeon RX 6000 and Nvidia’s GeForce RTX 30 series have seen strong demand/pricing in 2021, and the steep decline in cryptocurrency prices in the second-quarter did not significantly lower demand. GPU prices peaked in May - at the top of the crypto boom - and have fallen since. However, pricing is still strong with the AMD Radeon RX series selling for 1.64x suggested retail price at the end of August. Nvidia’s GeForce 30 series sold for 1.59x MSRP in August, indicating consistently high demand for GPUs.</p><p><blockquote>AMD的Radeon RX 6000和Nvidia的GeForce RTX 30系列等顶级显卡在2021年的需求/定价都很强劲，第二季度加密货币价格的急剧下跌并没有显著降低需求。GPU价格在5月份达到顶峰（加密货币繁荣的顶峰），此后一直在下降。然而，定价仍然强劲，AMD镭龙RX系列在8月底的售价为建议零售价的1.64倍。Nvidia的GeForce 30系列8月份的售价为建议零售价的1.59倍，表明对GPU的需求一直很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e234f2daf83e24fdb585fce43d5b3236\" tg-width=\"1024\" tg-height=\"448\" width=\"100%\" height=\"auto\"><span>Source: FPS Reviews</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FPS评论</span></p></blockquote></p><p> Because of excellent commercial performance in its main businesses,accelerating momentum in niche businesses&nbsp;and strength in GPU pricing, Nvidia is looking at a dramatic improvement in free cash flow over the next five years... supplying yet another reason to buy the shares!</p><p><blockquote>由于其主要业务的出色商业表现、利基业务的加速势头以及GPU定价的优势，英伟达预计未来五年自由现金流将大幅改善……提供了另一个购买股票的理由！</blockquote></p><p> Nvidia is projecting revenues of $6.8B +/- 2 percent for the third-quarter. Including Q3’22 revenue projections, Nvidia should post revenues of around $19.0B for the first nine months of FY 2022. Adding $7.0B in revenues on top of that for the fourth-quarter, and Nvidia is looking at revenues of around $26.0B for FY 2022.</p><p><blockquote>英伟达预计第三季度收入为68亿美元+/-2%。包括22年第3季度的收入预测在内，Nvidia 2022财年前9个月的收入应约为$19.0 B。在第四季度的基础上增加了$7.0 B的收入，Nvidia预计2022财年的收入约为$26.0 B。</blockquote></p><p> The market projects revenues of $25.8B this year and $29.0B revenues next year (the assumption is for just 13% year over year growth in FY 2023). I believe revenues will be above $30.0B in FY 2023 due to strong business momentum and favorable GPU pricing. Nvidia’s revenues are projected to grow at an annual rate of 23% until FY 2026 (base year: FY 2021).</p><p><blockquote>市场预计今年收入为$25.8 B，明年收入为$29.0 B（假设2023财年同比仅增长13%）。我相信，由于强劲的业务势头和有利的GPU定价，2023财年的收入将超过$30.0 B。到2026财年（基准年：2021财年），Nvidia的收入预计将以每年23%的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/76c03f31d7f5924796294fe4ef344ff8\" tg-width=\"640\" tg-height=\"244\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法估计</span></p></blockquote></p><p></p><p> Looking at Nvidia’s revenue to cash conversion, consistently high free cash flow margins can be found. The semiconductor firm generated annual free cash flow margins ranging between 28% and 39% from FY 2018 to FY 2021 with an average annual margin of 31%. I believe a free cash flow margin around 30% can be sustained going forward, especially if pricing in the graphics cards market stays strong. Because cryptocurrency prices started to recover in the third-quarter, GPUs could even see accelerating demand in the future. Rising digital currency prices benefit Nvidia in two ways: They boost the cryptocurrency mining business/CMP which sells dedicated processors, and higher demand for GPUs improves end market pricing, meaning Nvidia can sell the same graphics card for a higher price. Nvidia’s free cash flow margin in the first six months of FY 2022 was above 33%, due chiefly to strength in GPU demand and pricing.</p><p><blockquote>看看英伟达的收入现金转换，可以发现自由现金流利润率一直很高。从2018财年到2021财年，这家半导体公司的年自由现金流利润率在28%至39%之间，平均年利润率为31%。我相信未来可以维持30%左右的自由现金流利润率，特别是如果显卡市场的定价保持强劲的话。由于加密货币价格在第三季度开始复苏，GPU甚至可能在未来看到需求加速。数字货币价格上涨在两个方面使英伟达受益：它们提振了销售专用处理器的加密货币挖矿业务/CMP，对GPU的更高需求提高了终端市场定价，这意味着英伟达可以以更高的价格出售相同的显卡。英伟达2022财年前六个月的自由现金流利润率超过33%，这主要是由于GPU需求和定价的强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9e05cd7aa4844f19e4ba0899754633f\" tg-width=\"605\" tg-height=\"731\" width=\"100%\" height=\"auto\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Turning back to revenue projections.</p><p><blockquote>回到收入预测。</blockquote></p><p> The FY 2023 market expectation is for Nvidia to have revenues of $29.0B. Assuming a 30% free cash flow margin, Nvidia is looking at $8.7B in free cash flow next year... which is a 100% improvement over the firm's FY 2020 level of free cash flow. I believe the FY 2023 revenue estimate underestimates Nvidia’s growth potential next year as I see persistent strength in gaming and data centers, and a higher than 13% annual revenue growth rate. However, revenue estimates for Nvidia, for this year and next year, are rising...</p><p><blockquote>市场预期NVIDIA 2023财年的收入为$29.0 B。假设自由现金流利润率为30%，Nvidia预计明年的自由现金流为$8.7 B……这比公司2020财年的自由现金流水平提高了100%。我认为2023财年的收入预测低估了英伟达明年的增长潜力，因为我看到游戏和数据中心的持续实力，以及高于13%的年收入增长率。然而，英伟达今年和明年的收入预期正在上升...</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d979b6088a67cf25c6993d40c574bb7\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> If we were also to assume that Nvidia can generate 30% free cash flow margins in the future, Nvidia’s annual free cash flow is set to surpass $14B by FY 2026. In CAGR terms, this means that Nvidia will grow free cash flow at a 25% annual rate over the next five years. Nvidia may grow free cash flow at a faster rate if revenues also grow faster. I believe this will happen because the RTX upgrade cycle will lead to a higher volume of higher-priced GPUs being sold in the future, which is set to boost FCF margins.</p><p><blockquote>如果我们还假设Nvidia未来能够产生30%的自由现金流利润率，那么到2026财年，Nvidia的年度自由现金流将超过14B美元。以复合年增长率计算，这意味着英伟达的自由现金流将在未来五年内以每年25%的速度增长。如果收入增长更快，英伟达的自由现金流可能会以更快的速度增长。我相信这将会发生，因为RTX升级周期将导致未来销售更多价格更高的GPU，这将提高FCF利润率。</blockquote></p><p> As Nvidia releases more top-tier, higher margin graphics cards and gamers upgrade their equipment, Nvidia's free cash flow margins could even expand beyond 30%. Assuming a, say, 35% revenue to free cash flow conversion, Nvidia could generate up to $16.4B in annual free cash flow by FY 2026… which would imply a FCF CAGR of not 25%, but 29%.</p><p><blockquote>随着英伟达发布更多顶级、利润率更高的显卡以及游戏玩家升级设备，英伟达的自由现金流利润率甚至可能扩大到30%以上。假设35%的收入转换为自由现金流，到2026财年，Nvidia每年可产生高达$16.4 B的自由现金流……这意味着FCF复合年增长率不是25%，而是29%。</blockquote></p><p> For that reason, I believe Nvidia’s free cash flow potential is materially undervalued. Nvidia is set to generate a massive amount of cash flow in the next five years. Based off of FY 2023 revenue estimates, Nvidia is not cheap (P-S ratio: 17.9), but the potential for sales and free cash flow growth justifies the price.</p><p><blockquote>因此，我认为英伟达的自由现金流潜力被严重低估。英伟达将在未来五年内产生大量现金流。根据2023财年的收入预测，Nvidia的价格并不便宜（市盈率：17.9），但销售和自由现金流增长的潜力证明了价格的合理性。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/acfca86b9c32ab42da6edcea7b9046b0\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> <b>Risks with Nvidia</b></p><p><blockquote><b>Nvidia的风险</b></blockquote></p><p> Nvidia has a couple of commercial risks that need to be considered. The industry environment is favorable for Nvidia at the moment which explains strong revenue growth projections, but weaker pricing in graphics cards potentially indicates growing risks to Nvidia’s top line. Lower gross margins will also likely be seen as the canary in the coal mine, indicating that slowing revenue growth is on the horizon. Longer term, Nvidia has to keep its technological edge to defend its tech leadership in GPUs, data centers and AI. Failing to do so would give its rivals, AMD and Intel(NASDAQ:INTC), an opportunity to grow their market share at the expense of Nvidia.</p><p><blockquote>英伟达有几个需要考虑的商业风险。目前行业环境对英伟达有利，这解释了强劲的收入增长预测，但显卡定价疲软可能表明英伟达营收面临的风险越来越大。较低的毛利率也可能被视为煤矿中的金丝雀，表明收入增长即将放缓。从长远来看，英伟达必须保持其技术优势，以捍卫其在GPU、数据中心和人工智能领域的技术领先地位。如果做不到这一点，其竞争对手AMD和英特尔（纳斯达克股票代码：INTC）将有机会以牺牲英伟达为代价扩大市场份额。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Nvidia, despite a high P-S ratio, may still be undervalued considering the massive ramp in free cash flow that can be expected in the next five years. Sales projections for FY 2023 imply a drop off in growth rates, which I just don’t see given the accelerating strength in Nvidia’s main and niche businesses. Nvidia is in a buy-the-dip situation and the risk profile remains heavily skewed to the upside!</p><p><blockquote>尽管市盈率很高，但考虑到未来五年自由现金流的大幅增长，英伟达的估值可能仍然被低估。2023财年的销售预测意味着增长率会下降，但考虑到Nvidia主要业务和利基业务的实力不断增强，我并没有看到这一点。英伟达处于逢低买入的境地，风险状况仍然严重偏向上行！</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia Is Set To Turn Into A Cash Machine<blockquote>英伟达将变成提款机</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Is Set To Turn Into A Cash Machine<blockquote>英伟达将变成提款机</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-10-12 22:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Nvidia’s main businesses experience massive momentum as graphics cards sales surge and demand for data centers strengthens.</li>  <li>Strong GPU pricing served to improve Nvidia’s margins in the first six months of the year.</li>  <li>There is significant upside in Nvidia's free cash flow.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/12a40bc61cdb4aabe35ac1e3ed9ae5ac\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>随着显卡销量激增和数据中心需求增强，英伟达的主要业务发展势头强劲。</li><li>强劲的GPU定价提高了英伟达今年前六个月的利润率。</li><li>英伟达的自由现金流有显着的上升空间。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> Nvidia(NASDAQ:NVDA)is one of the world’s best growth stocks to own as gaming and data center revenues continue to soar. I believe Nvidia will grow into a massive cash machine over the next five years with an estimated annual free cash flow of $14.0B or more!</p><p><blockquote>随着游戏和数据中心收入持续飙升，英伟达（纳斯达克股票代码：NVDA）是全球最值得持有的成长型股票之一。我相信Nvidia将在未来五年内成长为一台巨大的提款机，预计每年自由现金流为$140亿或更多！</blockquote></p><p> <b>Why Nvidia is a long term buy</b></p><p><blockquote><b>为什么英伟达值得长期买入</b></blockquote></p><p> Nvidia just produces incredible growth. The firm generated 68% top line growth in the second-quarter, with revenues touching $6.51B due to soaring demand in the gaming and the data center segments. Gaming revenues surged to a record of $3.06B in the second-quarter, showing a year over year increase of 85%, chiefly because of strengthening sales in a severely undersupplied graphics cards market. Data center revenues also surged to a record, $2.37B in Q2’22, showing a year over year growth rate of 35%. With total revenues up by 68% and higher gross margins (66.7% in Q2’22), Nvidia’s commercial performance is getting better and better...</p><p><blockquote>英伟达带来了令人难以置信的增长。由于游戏和数据中心领域的需求飙升，该公司第二季度营收增长了68%，收入达到$6.51 B。第二季度游戏收入飙升至创纪录的$3.06 B，同比增长85%，主要是由于严重供应不足的显卡市场的销售增强。22年第二季度，数据中心收入也飙升至创纪录的$2.37 B，同比增长率为35%。随着总收入增长68%和毛利率更高（22年第二季度为66.7%），英伟达的商业业绩越来越好……</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b1af1b5d7b0be554a0ef5ed7d3b79435\" tg-width=\"742\" tg-height=\"192\" width=\"100%\" height=\"auto\"><span>Source: Nvidia</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：英伟达</span></p></blockquote></p><p> But I don’t believe Nvidia’s business has peaked yet. I believe Nvidia will continue to grow rapidly because of increasing demand for high performance data centers that can handle incredible amounts of workloads and because Nvidia’s largest business by revenues, gaming, is seeing pricing support from end markets. Graphics cards have been flying off the shelf in 2020 and 2021, in part because cryptocurrency miners compete with gamers for GPUs. The result has been that&nbsp;graphics cards are in a shortage, leading to a significant increase in GPU pricing. AMD(NASDAQ:AMD)and Nvidia, the two largest suppliers of high performance graphics processing units, benefit from this trend the most.</p><p><blockquote>但我不认为英伟达的业务已经见顶。我相信Nvidia将继续快速增长，因为对能够处理大量工作负载的高性能数据中心的需求不断增长，而且Nvidia按收入计算最大的业务游戏正在获得终端市场的定价支持。显卡在2020年和2021年大量下架，部分原因是加密货币矿工与游戏玩家争夺GPU。结果是显卡供不应求，导致GPU价格大幅上涨。AMD（纳斯达克股票代码：AMD）和英伟达这两家最大的高性能图形处理单元供应商从这一趋势中受益最多。</blockquote></p><p> Top-tier graphics cards like AMD’s Radeon RX 6000 and Nvidia’s GeForce RTX 30 series have seen strong demand/pricing in 2021, and the steep decline in cryptocurrency prices in the second-quarter did not significantly lower demand. GPU prices peaked in May - at the top of the crypto boom - and have fallen since. However, pricing is still strong with the AMD Radeon RX series selling for 1.64x suggested retail price at the end of August. Nvidia’s GeForce 30 series sold for 1.59x MSRP in August, indicating consistently high demand for GPUs.</p><p><blockquote>AMD的Radeon RX 6000和Nvidia的GeForce RTX 30系列等顶级显卡在2021年的需求/定价都很强劲，第二季度加密货币价格的急剧下跌并没有显著降低需求。GPU价格在5月份达到顶峰（加密货币繁荣的顶峰），此后一直在下降。然而，定价仍然强劲，AMD镭龙RX系列在8月底的售价为建议零售价的1.64倍。Nvidia的GeForce 30系列8月份的售价为建议零售价的1.59倍，表明对GPU的需求一直很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e234f2daf83e24fdb585fce43d5b3236\" tg-width=\"1024\" tg-height=\"448\" width=\"100%\" height=\"auto\"><span>Source: FPS Reviews</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FPS评论</span></p></blockquote></p><p> Because of excellent commercial performance in its main businesses,accelerating momentum in niche businesses&nbsp;and strength in GPU pricing, Nvidia is looking at a dramatic improvement in free cash flow over the next five years... supplying yet another reason to buy the shares!</p><p><blockquote>由于其主要业务的出色商业表现、利基业务的加速势头以及GPU定价的优势，英伟达预计未来五年自由现金流将大幅改善……提供了另一个购买股票的理由！</blockquote></p><p> Nvidia is projecting revenues of $6.8B +/- 2 percent for the third-quarter. Including Q3’22 revenue projections, Nvidia should post revenues of around $19.0B for the first nine months of FY 2022. Adding $7.0B in revenues on top of that for the fourth-quarter, and Nvidia is looking at revenues of around $26.0B for FY 2022.</p><p><blockquote>英伟达预计第三季度收入为68亿美元+/-2%。包括22年第3季度的收入预测在内，Nvidia 2022财年前9个月的收入应约为$19.0 B。在第四季度的基础上增加了$7.0 B的收入，Nvidia预计2022财年的收入约为$26.0 B。</blockquote></p><p> The market projects revenues of $25.8B this year and $29.0B revenues next year (the assumption is for just 13% year over year growth in FY 2023). I believe revenues will be above $30.0B in FY 2023 due to strong business momentum and favorable GPU pricing. Nvidia’s revenues are projected to grow at an annual rate of 23% until FY 2026 (base year: FY 2021).</p><p><blockquote>市场预计今年收入为$25.8 B，明年收入为$29.0 B（假设2023财年同比仅增长13%）。我相信，由于强劲的业务势头和有利的GPU定价，2023财年的收入将超过$30.0 B。到2026财年（基准年：2021财年），Nvidia的收入预计将以每年23%的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/76c03f31d7f5924796294fe4ef344ff8\" tg-width=\"640\" tg-height=\"244\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法估计</span></p></blockquote></p><p></p><p> Looking at Nvidia’s revenue to cash conversion, consistently high free cash flow margins can be found. The semiconductor firm generated annual free cash flow margins ranging between 28% and 39% from FY 2018 to FY 2021 with an average annual margin of 31%. I believe a free cash flow margin around 30% can be sustained going forward, especially if pricing in the graphics cards market stays strong. Because cryptocurrency prices started to recover in the third-quarter, GPUs could even see accelerating demand in the future. Rising digital currency prices benefit Nvidia in two ways: They boost the cryptocurrency mining business/CMP which sells dedicated processors, and higher demand for GPUs improves end market pricing, meaning Nvidia can sell the same graphics card for a higher price. Nvidia’s free cash flow margin in the first six months of FY 2022 was above 33%, due chiefly to strength in GPU demand and pricing.</p><p><blockquote>看看英伟达的收入现金转换，可以发现自由现金流利润率一直很高。从2018财年到2021财年，这家半导体公司的年自由现金流利润率在28%至39%之间，平均年利润率为31%。我相信未来可以维持30%左右的自由现金流利润率，特别是如果显卡市场的定价保持强劲的话。由于加密货币价格在第三季度开始复苏，GPU甚至可能在未来看到需求加速。数字货币价格上涨在两个方面使英伟达受益：它们提振了销售专用处理器的加密货币挖矿业务/CMP，对GPU的更高需求提高了终端市场定价，这意味着英伟达可以以更高的价格出售相同的显卡。英伟达2022财年前六个月的自由现金流利润率超过33%，这主要是由于GPU需求和定价的强劲。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9e05cd7aa4844f19e4ba0899754633f\" tg-width=\"605\" tg-height=\"731\" width=\"100%\" height=\"auto\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Turning back to revenue projections.</p><p><blockquote>回到收入预测。</blockquote></p><p> The FY 2023 market expectation is for Nvidia to have revenues of $29.0B. Assuming a 30% free cash flow margin, Nvidia is looking at $8.7B in free cash flow next year... which is a 100% improvement over the firm's FY 2020 level of free cash flow. I believe the FY 2023 revenue estimate underestimates Nvidia’s growth potential next year as I see persistent strength in gaming and data centers, and a higher than 13% annual revenue growth rate. However, revenue estimates for Nvidia, for this year and next year, are rising...</p><p><blockquote>市场预期NVIDIA 2023财年的收入为$29.0 B。假设自由现金流利润率为30%，Nvidia预计明年的自由现金流为$8.7 B……这比公司2020财年的自由现金流水平提高了100%。我认为2023财年的收入预测低估了英伟达明年的增长潜力，因为我看到游戏和数据中心的持续实力，以及高于13%的年收入增长率。然而，英伟达今年和明年的收入预期正在上升...</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d979b6088a67cf25c6993d40c574bb7\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> If we were also to assume that Nvidia can generate 30% free cash flow margins in the future, Nvidia’s annual free cash flow is set to surpass $14B by FY 2026. In CAGR terms, this means that Nvidia will grow free cash flow at a 25% annual rate over the next five years. Nvidia may grow free cash flow at a faster rate if revenues also grow faster. I believe this will happen because the RTX upgrade cycle will lead to a higher volume of higher-priced GPUs being sold in the future, which is set to boost FCF margins.</p><p><blockquote>如果我们还假设Nvidia未来能够产生30%的自由现金流利润率，那么到2026财年，Nvidia的年度自由现金流将超过14B美元。以复合年增长率计算，这意味着英伟达的自由现金流将在未来五年内以每年25%的速度增长。如果收入增长更快，英伟达的自由现金流可能会以更快的速度增长。我相信这将会发生，因为RTX升级周期将导致未来销售更多价格更高的GPU，这将提高FCF利润率。</blockquote></p><p> As Nvidia releases more top-tier, higher margin graphics cards and gamers upgrade their equipment, Nvidia's free cash flow margins could even expand beyond 30%. Assuming a, say, 35% revenue to free cash flow conversion, Nvidia could generate up to $16.4B in annual free cash flow by FY 2026… which would imply a FCF CAGR of not 25%, but 29%.</p><p><blockquote>随着英伟达发布更多顶级、利润率更高的显卡以及游戏玩家升级设备，英伟达的自由现金流利润率甚至可能扩大到30%以上。假设35%的收入转换为自由现金流，到2026财年，Nvidia每年可产生高达$16.4 B的自由现金流……这意味着FCF复合年增长率不是25%，而是29%。</blockquote></p><p> For that reason, I believe Nvidia’s free cash flow potential is materially undervalued. Nvidia is set to generate a massive amount of cash flow in the next five years. Based off of FY 2023 revenue estimates, Nvidia is not cheap (P-S ratio: 17.9), but the potential for sales and free cash flow growth justifies the price.</p><p><blockquote>因此，我认为英伟达的自由现金流潜力被严重低估。英伟达将在未来五年内产生大量现金流。根据2023财年的收入预测，Nvidia的价格并不便宜（市盈率：17.9），但销售和自由现金流增长的潜力证明了价格的合理性。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/acfca86b9c32ab42da6edcea7b9046b0\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> <b>Risks with Nvidia</b></p><p><blockquote><b>Nvidia的风险</b></blockquote></p><p> Nvidia has a couple of commercial risks that need to be considered. The industry environment is favorable for Nvidia at the moment which explains strong revenue growth projections, but weaker pricing in graphics cards potentially indicates growing risks to Nvidia’s top line. Lower gross margins will also likely be seen as the canary in the coal mine, indicating that slowing revenue growth is on the horizon. Longer term, Nvidia has to keep its technological edge to defend its tech leadership in GPUs, data centers and AI. Failing to do so would give its rivals, AMD and Intel(NASDAQ:INTC), an opportunity to grow their market share at the expense of Nvidia.</p><p><blockquote>英伟达有几个需要考虑的商业风险。目前行业环境对英伟达有利，这解释了强劲的收入增长预测，但显卡定价疲软可能表明英伟达营收面临的风险越来越大。较低的毛利率也可能被视为煤矿中的金丝雀，表明收入增长即将放缓。从长远来看，英伟达必须保持其技术优势，以捍卫其在GPU、数据中心和人工智能领域的技术领先地位。如果做不到这一点，其竞争对手AMD和英特尔（纳斯达克股票代码：INTC）将有机会以牺牲英伟达为代价扩大市场份额。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Nvidia, despite a high P-S ratio, may still be undervalued considering the massive ramp in free cash flow that can be expected in the next five years. Sales projections for FY 2023 imply a drop off in growth rates, which I just don’t see given the accelerating strength in Nvidia’s main and niche businesses. Nvidia is in a buy-the-dip situation and the risk profile remains heavily skewed to the upside!</p><p><blockquote>尽管市盈率很高，但考虑到未来五年自由现金流的大幅增长，英伟达的估值可能仍然被低估。2023财年的销售预测意味着增长率会下降，但考虑到Nvidia主要业务和利基业务的实力不断增强，我并没有看到这一点。英伟达处于逢低买入的境地，风险状况仍然严重偏向上行！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4459353-nvidia-set-to-turn-into-cash-machine\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4459353-nvidia-set-to-turn-into-cash-machine","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174197178","content_text":"Summary\n\nNvidia’s main businesses experience massive momentum as graphics cards sales surge and demand for data centers strengthens.\nStrong GPU pricing served to improve Nvidia’s margins in the first six months of the year.\nThere is significant upside in Nvidia's free cash flow.\n\nJustin Sullivan/Getty Images News\nNvidia(NASDAQ:NVDA)is one of the world’s best growth stocks to own as gaming and data center revenues continue to soar. I believe Nvidia will grow into a massive cash machine over the next five years with an estimated annual free cash flow of $14.0B or more!\nWhy Nvidia is a long term buy\nNvidia just produces incredible growth. The firm generated 68% top line growth in the second-quarter, with revenues touching $6.51B due to soaring demand in the gaming and the data center segments. Gaming revenues surged to a record of $3.06B in the second-quarter, showing a year over year increase of 85%, chiefly because of strengthening sales in a severely undersupplied graphics cards market. Data center revenues also surged to a record, $2.37B in Q2’22, showing a year over year growth rate of 35%. With total revenues up by 68% and higher gross margins (66.7% in Q2’22), Nvidia’s commercial performance is getting better and better...\nSource: Nvidia\nBut I don’t believe Nvidia’s business has peaked yet. I believe Nvidia will continue to grow rapidly because of increasing demand for high performance data centers that can handle incredible amounts of workloads and because Nvidia’s largest business by revenues, gaming, is seeing pricing support from end markets. Graphics cards have been flying off the shelf in 2020 and 2021, in part because cryptocurrency miners compete with gamers for GPUs. The result has been that graphics cards are in a shortage, leading to a significant increase in GPU pricing. AMD(NASDAQ:AMD)and Nvidia, the two largest suppliers of high performance graphics processing units, benefit from this trend the most.\nTop-tier graphics cards like AMD’s Radeon RX 6000 and Nvidia’s GeForce RTX 30 series have seen strong demand/pricing in 2021, and the steep decline in cryptocurrency prices in the second-quarter did not significantly lower demand. GPU prices peaked in May - at the top of the crypto boom - and have fallen since. However, pricing is still strong with the AMD Radeon RX series selling for 1.64x suggested retail price at the end of August. Nvidia’s GeForce 30 series sold for 1.59x MSRP in August, indicating consistently high demand for GPUs.\nSource: FPS Reviews\nBecause of excellent commercial performance in its main businesses,accelerating momentum in niche businesses and strength in GPU pricing, Nvidia is looking at a dramatic improvement in free cash flow over the next five years... supplying yet another reason to buy the shares!\nNvidia is projecting revenues of $6.8B +/- 2 percent for the third-quarter. Including Q3’22 revenue projections, Nvidia should post revenues of around $19.0B for the first nine months of FY 2022. Adding $7.0B in revenues on top of that for the fourth-quarter, and Nvidia is looking at revenues of around $26.0B for FY 2022.\nThe market projects revenues of $25.8B this year and $29.0B revenues next year (the assumption is for just 13% year over year growth in FY 2023). I believe revenues will be above $30.0B in FY 2023 due to strong business momentum and favorable GPU pricing. Nvidia’s revenues are projected to grow at an annual rate of 23% until FY 2026 (base year: FY 2021).\nSource: Seeking Alpha Estimates\nLooking at Nvidia’s revenue to cash conversion, consistently high free cash flow margins can be found. The semiconductor firm generated annual free cash flow margins ranging between 28% and 39% from FY 2018 to FY 2021 with an average annual margin of 31%. I believe a free cash flow margin around 30% can be sustained going forward, especially if pricing in the graphics cards market stays strong. Because cryptocurrency prices started to recover in the third-quarter, GPUs could even see accelerating demand in the future. Rising digital currency prices benefit Nvidia in two ways: They boost the cryptocurrency mining business/CMP which sells dedicated processors, and higher demand for GPUs improves end market pricing, meaning Nvidia can sell the same graphics card for a higher price. Nvidia’s free cash flow margin in the first six months of FY 2022 was above 33%, due chiefly to strength in GPU demand and pricing.\nSource: Author\nTurning back to revenue projections.\nThe FY 2023 market expectation is for Nvidia to have revenues of $29.0B. Assuming a 30% free cash flow margin, Nvidia is looking at $8.7B in free cash flow next year... which is a 100% improvement over the firm's FY 2020 level of free cash flow. I believe the FY 2023 revenue estimate underestimates Nvidia’s growth potential next year as I see persistent strength in gaming and data centers, and a higher than 13% annual revenue growth rate. However, revenue estimates for Nvidia, for this year and next year, are rising...\nData by YCharts\nIf we were also to assume that Nvidia can generate 30% free cash flow margins in the future, Nvidia’s annual free cash flow is set to surpass $14B by FY 2026. In CAGR terms, this means that Nvidia will grow free cash flow at a 25% annual rate over the next five years. Nvidia may grow free cash flow at a faster rate if revenues also grow faster. I believe this will happen because the RTX upgrade cycle will lead to a higher volume of higher-priced GPUs being sold in the future, which is set to boost FCF margins.\nAs Nvidia releases more top-tier, higher margin graphics cards and gamers upgrade their equipment, Nvidia's free cash flow margins could even expand beyond 30%. Assuming a, say, 35% revenue to free cash flow conversion, Nvidia could generate up to $16.4B in annual free cash flow by FY 2026… which would imply a FCF CAGR of not 25%, but 29%.\nFor that reason, I believe Nvidia’s free cash flow potential is materially undervalued. Nvidia is set to generate a massive amount of cash flow in the next five years. Based off of FY 2023 revenue estimates, Nvidia is not cheap (P-S ratio: 17.9), but the potential for sales and free cash flow growth justifies the price.\nData by YCharts\nRisks with Nvidia\nNvidia has a couple of commercial risks that need to be considered. The industry environment is favorable for Nvidia at the moment which explains strong revenue growth projections, but weaker pricing in graphics cards potentially indicates growing risks to Nvidia’s top line. Lower gross margins will also likely be seen as the canary in the coal mine, indicating that slowing revenue growth is on the horizon. Longer term, Nvidia has to keep its technological edge to defend its tech leadership in GPUs, data centers and AI. Failing to do so would give its rivals, AMD and Intel(NASDAQ:INTC), an opportunity to grow their market share at the expense of Nvidia.\nFinal thoughts\nNvidia, despite a high P-S ratio, may still be undervalued considering the massive ramp in free cash flow that can be expected in the next five years. Sales projections for FY 2023 imply a drop off in growth rates, which I just don’t see given the accelerating strength in Nvidia’s main and niche businesses. Nvidia is in a buy-the-dip situation and the risk profile remains heavily skewed to the upside!","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826783647,"gmtCreate":1634053896235,"gmtModify":1634089006564,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/826783647","repostId":"1160581040","repostType":4,"repost":{"id":"1160581040","kind":"news","pubTimestamp":1634042129,"share":"https://www.laohu8.com/m/news/1160581040?lang=zh_CN&edition=full","pubTime":"2021-10-12 20:35","market":"us","language":"en","title":"Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160581040","media":"Barrons","summary":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to ","content":"<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnother Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-12 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160581040","content_text":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.\nReports from S&P 500 companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from Delta Air Lines (DAL),Walgreens Boots Alliance (WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase & Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.\nAnalysts are forecasting aggregate earnings per share on the S&P 500 to grow 24.5%, according to S&P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.\nNo matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.\nThat won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.\n“We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.\nEarnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.\nThe good news? The S&P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.\nThe question is whether it’s enough.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821757770,"gmtCreate":1633797452338,"gmtModify":1633834486238,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Waiting for the crash","listText":"Waiting for the crash","text":"Waiting for the crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821757770","repostId":"1190298937","repostType":4,"repost":{"id":"1190298937","kind":"news","pubTimestamp":1633787347,"share":"https://www.laohu8.com/m/news/1190298937?lang=zh_CN&edition=full","pubTime":"2021-10-09 21:49","market":"us","language":"en","title":"Morgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190298937","media":"finance.yahoo","summary":"Slowing growth and tightening financial conditions.\nThat makes Mike Wilson, Morgan Stanley’s chief i","content":"<p>Slowing growth and tightening financial conditions.</p><p><blockquote>增长放缓和金融状况收紧。</blockquote></p><p> That makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.</p><p><blockquote>这让摩根士丹利首席投资官迈克·威尔逊感到紧张。</blockquote></p><p> “In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"</p><p><blockquote>“简而言之，更高的实际利率应该意味着更低的股价，”威尔逊上周在给客户的一份报告中写道。“其次，它们也可能意味着价值超过增长，即使整体股市走低。”</blockquote></p><p> Wilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.</p><p><blockquote>Wilson在最近的一次采访中还表示，由于盈利预期过高，该公司10%-20%调整的看涨期权将由科技股引领。</blockquote></p><p> Within that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.</p><p><blockquote>在此背景下，威尔逊建议投资者青睐医疗保健、必需消费品和金融等防御性板块。</blockquote></p><p> Let's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.</p><p><blockquote>让我们快速浏览一下这些领域的一些可能的游戏——其中一个可能值得用你的零钱购买。</blockquote></p><p> 1. Financials: Bank of America (BAC)</p><p><blockquote>1.金融：美国银行（BAC）</blockquote></p><p> Over the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.</p><p><blockquote>在过去十年中，美国银行精简和完善了其业务实践和运营，从美国评级最低的银行之一跃升为资产第二大银行（总资产约2.3万亿美元）。摩根大通拥有3万亿美元的资产，是最大的。</blockquote></p><p> As the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.</p><p><blockquote>随着经济继续从疫情中复苏，通胀继续飙升，利率可能会上升，这使该银行处于继续取得成功的有利位置。银行通过更大的“利差”（他们支付给客户的利息与他们通过投资赚取的利息之间的差额）从更高的利率中受益。</blockquote></p><p> And despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.</p><p><blockquote>尽管上个季度没有完全达到盈利水平，但美国银行还是向股东提高了股息，将其收益率从每股18美分提高到21美分，增加了17%。目前，该股的股息率为1.9%。</blockquote></p><p> 2. Consumer Staples: PepsiCo (PEP)</p><p><blockquote>2.必需消费品：百事可乐（PEP）</blockquote></p><p> Pepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.</p><p><blockquote>百事可乐不仅仅是一个主要的可乐和苏打水品牌。大多数消费者都会意识到激浪和佳得乐属于百事可乐旗下。</blockquote></p><p> But this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.</p><p><blockquote>但这家食品和饮料巨头还在全球拥有菲多利、桂格食品、纯果乐、SodaStream和数十个其他品牌。</blockquote></p><p> With everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.</p><p><blockquote>由于每个人都花这么多时间在家，疫情期间零食消费量大幅上升——这对百事可乐来说是个好消息。7月份，该公司报告净销售额同比增长超过20%，达到192.2亿美元，远高于180亿美元的预期。</blockquote></p><p> And the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.</p><p><blockquote>该公司正在通过健康的股息将一些甜的（或咸的，取决于你的口味）美元传递给股东，这些年来股息一直在稳步增加。过去十年，百事可乐的股息复合增长率为7.7%，而其主要竞争对手可口可乐的股息复合增长率为6.1%。</blockquote></p><p> Pepsico shares offer a dividend yield of 2.8%.</p><p><blockquote>百事公司股票的股息率为2.8%。</blockquote></p><p> 3. Health care: Johnson &amp; Johnson (JNJ)</p><p><blockquote>3.医疗保健：强生（JNJ）</blockquote></p><p> Between its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson &amp; Johnson has become a household name.</p><p><blockquote>强生公司的医疗器械、药品和消费品业务已成为家喻户晓的品牌。</blockquote></p><p> And more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean &amp; Clear could stand on their own as successful brands.</p><p><blockquote>更重要的是，其众多子公司，包括Band-Aid、Tylenol、Neutrogena、Listerine和Clean&amp;Clear都可以独立成为成功的品牌。</blockquote></p><p> JNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.</p><p><blockquote>强生在医疗保健领域的多元化持股确保其能够度过任何经济衰退。JNJ旗下的Janssen Pharamceutica部门拥有一些行业领先的免疫学和癌症治疗药物，因此JNJ拥有大量的增长机会。</blockquote></p><p> The company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.</p><p><blockquote>该公司第二季度的业绩受到全年COVID-19注射收入125.9亿美元的提振，仅第二季度全球销售额就达到1.64亿美元。</blockquote></p><p> JNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.</p><p><blockquote>强生通过第三季度1.06美元的股息与股东分享了其成功，高于六个月前的1.01美元。</blockquote></p><p> The stock currently has a dividend yield of 2.7%.</p><p><blockquote>该股目前的股息率为2.7%。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">finance.yahoo</strong><span class=\"h-time small\">2021-10-09 21:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Slowing growth and tightening financial conditions.</p><p><blockquote>增长放缓和金融状况收紧。</blockquote></p><p> That makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.</p><p><blockquote>这让摩根士丹利首席投资官迈克·威尔逊感到紧张。</blockquote></p><p> “In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"</p><p><blockquote>“简而言之，更高的实际利率应该意味着更低的股价，”威尔逊上周在给客户的一份报告中写道。“其次，它们也可能意味着价值超过增长，即使整体股市走低。”</blockquote></p><p> Wilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.</p><p><blockquote>Wilson在最近的一次采访中还表示，由于盈利预期过高，该公司10%-20%调整的看涨期权将由科技股引领。</blockquote></p><p> Within that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.</p><p><blockquote>在此背景下，威尔逊建议投资者青睐医疗保健、必需消费品和金融等防御性板块。</blockquote></p><p> Let's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.</p><p><blockquote>让我们快速浏览一下这些领域的一些可能的游戏——其中一个可能值得用你的零钱购买。</blockquote></p><p> 1. Financials: Bank of America (BAC)</p><p><blockquote>1.金融：美国银行（BAC）</blockquote></p><p> Over the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.</p><p><blockquote>在过去十年中，美国银行精简和完善了其业务实践和运营，从美国评级最低的银行之一跃升为资产第二大银行（总资产约2.3万亿美元）。摩根大通拥有3万亿美元的资产，是最大的。</blockquote></p><p> As the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.</p><p><blockquote>随着经济继续从疫情中复苏，通胀继续飙升，利率可能会上升，这使该银行处于继续取得成功的有利位置。银行通过更大的“利差”（他们支付给客户的利息与他们通过投资赚取的利息之间的差额）从更高的利率中受益。</blockquote></p><p> And despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.</p><p><blockquote>尽管上个季度没有完全达到盈利水平，但美国银行还是向股东提高了股息，将其收益率从每股18美分提高到21美分，增加了17%。目前，该股的股息率为1.9%。</blockquote></p><p> 2. Consumer Staples: PepsiCo (PEP)</p><p><blockquote>2.必需消费品：百事可乐（PEP）</blockquote></p><p> Pepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.</p><p><blockquote>百事可乐不仅仅是一个主要的可乐和苏打水品牌。大多数消费者都会意识到激浪和佳得乐属于百事可乐旗下。</blockquote></p><p> But this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.</p><p><blockquote>但这家食品和饮料巨头还在全球拥有菲多利、桂格食品、纯果乐、SodaStream和数十个其他品牌。</blockquote></p><p> With everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.</p><p><blockquote>由于每个人都花这么多时间在家，疫情期间零食消费量大幅上升——这对百事可乐来说是个好消息。7月份，该公司报告净销售额同比增长超过20%，达到192.2亿美元，远高于180亿美元的预期。</blockquote></p><p> And the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.</p><p><blockquote>该公司正在通过健康的股息将一些甜的（或咸的，取决于你的口味）美元传递给股东，这些年来股息一直在稳步增加。过去十年，百事可乐的股息复合增长率为7.7%，而其主要竞争对手可口可乐的股息复合增长率为6.1%。</blockquote></p><p> Pepsico shares offer a dividend yield of 2.8%.</p><p><blockquote>百事公司股票的股息率为2.8%。</blockquote></p><p> 3. Health care: Johnson &amp; Johnson (JNJ)</p><p><blockquote>3.医疗保健：强生（JNJ）</blockquote></p><p> Between its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson &amp; Johnson has become a household name.</p><p><blockquote>强生公司的医疗器械、药品和消费品业务已成为家喻户晓的品牌。</blockquote></p><p> And more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean &amp; Clear could stand on their own as successful brands.</p><p><blockquote>更重要的是，其众多子公司，包括Band-Aid、Tylenol、Neutrogena、Listerine和Clean&amp;Clear都可以独立成为成功的品牌。</blockquote></p><p> JNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.</p><p><blockquote>强生在医疗保健领域的多元化持股确保其能够度过任何经济衰退。JNJ旗下的Janssen Pharamceutica部门拥有一些行业领先的免疫学和癌症治疗药物，因此JNJ拥有大量的增长机会。</blockquote></p><p> The company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.</p><p><blockquote>该公司第二季度的业绩受到全年COVID-19注射收入125.9亿美元的提振，仅第二季度全球销售额就达到1.64亿美元。</blockquote></p><p> JNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.</p><p><blockquote>强生通过第三季度1.06美元的股息与股东分享了其成功，高于六个月前的1.01美元。</blockquote></p><p> The stock currently has a dividend yield of 2.7%.</p><p><blockquote>该股目前的股息率为2.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/morgan-stanley-still-calling-10-120000250.html\">finance.yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JNJ":"强生","BAC":"美国银行","PEP":"百事可乐"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-still-calling-10-120000250.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190298937","content_text":"Slowing growth and tightening financial conditions.\nThat makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.\n“In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"\nWilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.\nWithin that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.\nLet's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.\n1. Financials: Bank of America (BAC)\nOver the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.\nAs the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.\nAnd despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.\n2. Consumer Staples: PepsiCo (PEP)\nPepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.\nBut this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.\nWith everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.\nAnd the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.\nPepsico shares offer a dividend yield of 2.8%.\n3. Health care: Johnson & Johnson (JNJ)\nBetween its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson & Johnson has become a household name.\nAnd more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean & Clear could stand on their own as successful brands.\nJNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.\nThe company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.\nJNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.\nThe stock currently has a dividend yield of 2.7%.","news_type":1,"symbols_score_info":{"PEP":0.9,"BAC":0.9,"JNJ":0.9}},"isVote":1,"tweetType":1,"viewCount":1172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821894179,"gmtCreate":1633717952799,"gmtModify":1633744975730,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095222842422150","authorIdStr":"4095222842422150"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821894179","repostId":"1127521584","repostType":4,"repost":{"id":"1127521584","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633703837,"share":"https://www.laohu8.com/m/news/1127521584?lang=zh_CN&edition=full","pubTime":"2021-10-08 22:37","market":"fut","language":"en","title":"WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127521584","media":"Tiger Newspress","summary":"(Oct 8) WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.\nOil hit $80p","content":"<p>(Oct 8)&nbsp;WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.</p><p><blockquote>（10月8日）WTI原油期货自2014年11月以来首次触及80美元/桶以上的盘中高点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0184d41d2db5d0371cff154c599850dd\" tg-width=\"814\" tg-height=\"404\" referrerpolicy=\"no-referrer\">Oil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.</p><p><blockquote>周五，油价触及每桶80美元，创七年新高，有可能进一步提高数百万美国人在加油站和今年冬季供暖季节的能源成本。</blockquote></p><p> NYMEX crude has gained over 60% this year.</p><p><blockquote>纽约商业交易所原油今年已上涨超过60%。</blockquote></p><p> Brent, the global benchmark, hit the $83 level and has gained over 58% this year.</p><p><blockquote>全球基准布伦特原油触及83美元水平，今年已上涨超过58%。</blockquote></p><p> In addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.</p><p><blockquote>除了打击消费者之外，原油价格上涨进一步反映了美国作为全球能源领导者的落后程度。</blockquote></p><p> \"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.</p><p><blockquote>“我们成为世界上最大的石油和天然气生产国，比沙特阿拉伯还大，比俄罗斯还大。这对美国和美国人民来说是一项重要的成就，在如此短的时间内扭转了这一局面，这确实令人震惊，”特朗普总统领导下的美国前能源部长丹·布鲁耶特在接受福克斯商业频道拉里·库德洛采访时说道。</blockquote></p><p> OPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.</p><p><blockquote>尽管疫情持续反弹和美国压力导致需求上升，但欧佩克最近仍将产量维持在当前水平。</blockquote></p><p> Prices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.</p><p><blockquote>根据AAA，加油站价格达到每加仑3.26美元，为2014年10月以来的最高水平。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-08 22:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 8)&nbsp;WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.</p><p><blockquote>（10月8日）WTI原油期货自2014年11月以来首次触及80美元/桶以上的盘中高点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0184d41d2db5d0371cff154c599850dd\" tg-width=\"814\" tg-height=\"404\" referrerpolicy=\"no-referrer\">Oil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.</p><p><blockquote>周五，油价触及每桶80美元，创七年新高，有可能进一步提高数百万美国人在加油站和今年冬季供暖季节的能源成本。</blockquote></p><p> NYMEX crude has gained over 60% this year.</p><p><blockquote>纽约商业交易所原油今年已上涨超过60%。</blockquote></p><p> Brent, the global benchmark, hit the $83 level and has gained over 58% this year.</p><p><blockquote>全球基准布伦特原油触及83美元水平，今年已上涨超过58%。</blockquote></p><p> In addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.</p><p><blockquote>除了打击消费者之外，原油价格上涨进一步反映了美国作为全球能源领导者的落后程度。</blockquote></p><p> \"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.</p><p><blockquote>“我们成为世界上最大的石油和天然气生产国，比沙特阿拉伯还大，比俄罗斯还大。这对美国和美国人民来说是一项重要的成就，在如此短的时间内扭转了这一局面，这确实令人震惊，”特朗普总统领导下的美国前能源部长丹·布鲁耶特在接受福克斯商业频道拉里·库德洛采访时说道。</blockquote></p><p> OPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.</p><p><blockquote>尽管疫情持续反弹和美国压力导致需求上升，但欧佩克最近仍将产量维持在当前水平。</blockquote></p><p> Prices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.</p><p><blockquote>根据AAA，加油站价格达到每加仑3.26美元，为2014年10月以来的最高水平。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRUD.UK":"WTI原油ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127521584","content_text":"(Oct 8) WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.\nOil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.\nNYMEX crude has gained over 60% this year.\nBrent, the global benchmark, hit the $83 level and has gained over 58% this year.\nIn addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.\n\"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.\nOPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.\nPrices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.","news_type":1,"symbols_score_info":{"CLmain":0.9,"CRUD.UK":0.9,"MCLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":877363068,"gmtCreate":1637889122582,"gmtModify":1637889122582,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Kimly result is good","listText":"Kimly result is good","text":"Kimly result is good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/877363068","repostId":"1143359507","repostType":4,"isVote":1,"tweetType":1,"viewCount":4330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845996956,"gmtCreate":1636260094468,"gmtModify":1636260094616,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Amd is dark horse","listText":"Amd is dark horse","text":"Amd is dark horse","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/845996956","repostId":"2181774208","repostType":4,"isVote":1,"tweetType":1,"viewCount":3153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823755970,"gmtCreate":1633665587437,"gmtModify":1633665796480,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Go go go","listText":"Go go go","text":"Go go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823755970","repostId":"2173194492","repostType":4,"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699125633,"gmtCreate":1639757604887,"gmtModify":1639757933489,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"High risk high gain","listText":"High risk high gain","text":"High risk high gain","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699125633","repostId":"1125012423","repostType":4,"repost":{"id":"1125012423","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639751833,"share":"https://www.laohu8.com/m/news/1125012423?lang=zh_CN&edition=full","pubTime":"2021-12-17 22:37","market":"us","language":"en","title":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125012423","media":"Tiger Newspress","summary":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.It highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.\"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC","content":"<p>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.<img src=\"https://static.tigerbbs.com/f2cd2f9985fc84125cde2f76f0e9f403\" tg-width=\"764\" tg-height=\"567\" width=\"100%\" height=\"auto\">It&nbsp;highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.</p><p><blockquote>Rivian警告供应问题将影响2021年产量，该公司早盘股价下跌超过12%。它强调了在提高产量以对抗电动汽车领导者特斯拉公司时可能面临的挑战。</blockquote></p><p> Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.</p><p><blockquote>Rivian还宣布计划建造一座耗资50亿美元的工厂以提高产能，同时指出尽管每周收到约2,000份预订订单，但仍面临生产挑战。</blockquote></p><p> \"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.</p><p><blockquote>加拿大皇家银行资本市场分析师Joseph Spak表示：“我们不想过多解读近期问题……但这确实凸显了Rivian有很多事情要做的风险。”</blockquote></p><p> The company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.</p><p><blockquote>该公司预计，由于供应链限制，产量将比2021年1200辆的目标“少几百辆”。</blockquote></p><p> Increasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.</p><p><blockquote>首席执行官RJ Scaringe表示，在几个月内增加R1T卡车、R1S SUV和亚马逊送货车的产量将类似于“一个非常复杂的管弦乐队”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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#494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production<blockquote>Rivian警告供应问题将影响2021年产量，早盘股价暴跌逾12%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-17 22:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.<img src=\"https://static.tigerbbs.com/f2cd2f9985fc84125cde2f76f0e9f403\" tg-width=\"764\" tg-height=\"567\" width=\"100%\" height=\"auto\">It&nbsp;highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.</p><p><blockquote>Rivian警告供应问题将影响2021年产量，该公司早盘股价下跌超过12%。它强调了在提高产量以对抗电动汽车领导者特斯拉公司时可能面临的挑战。</blockquote></p><p> Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.</p><p><blockquote>Rivian还宣布计划建造一座耗资50亿美元的工厂以提高产能，同时指出尽管每周收到约2,000份预订订单，但仍面临生产挑战。</blockquote></p><p> \"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.</p><p><blockquote>加拿大皇家银行资本市场分析师Joseph Spak表示：“我们不想过多解读近期问题……但这确实凸显了Rivian有很多事情要做的风险。”</blockquote></p><p> The company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.</p><p><blockquote>该公司预计，由于供应链限制，产量将比2021年1200辆的目标“少几百辆”。</blockquote></p><p> Increasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.</p><p><blockquote>首席执行官RJ Scaringe表示，在几个月内增加R1T卡车、R1S SUV和亚马逊送货车的产量将类似于“一个非常复杂的管弦乐队”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125012423","content_text":"Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.It highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.\nRivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week.\n\"We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate,\" RBC Capital Markets analyst Joseph Spak said.\nThe company expects production to fall \"a few hundred vehicles short\" of its 2021 target of 1,200 due to supply chain constraints.\nIncreasing production of R1T truck, R1S SUV and Amazon's delivery vans within a few months would be akin to \"a really complex orchestra,\" Chief Executive Officer RJ Scaringe said.","news_type":1,"symbols_score_info":{"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":2428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846633321,"gmtCreate":1636076712605,"gmtModify":1636076712710,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Strong","listText":"Strong","text":"Strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/846633321","repostId":"1120921072","repostType":4,"repost":{"id":"1120921072","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1636033171,"share":"https://www.laohu8.com/m/news/1120921072?lang=zh_CN&edition=full","pubTime":"2021-11-04 21:39","market":"us","language":"en","title":"Nvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120921072","media":"Tiger Newspress","summary":"Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading","content":"<p>Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading</p><p><blockquote>英伟达股价早盘涨超3%创新高</blockquote></p><p> <img src=\"https://static.tigerbbs.com/91f537d50834f0a84524b9b13559b91e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia shares rose more than 3% to a new high<blockquote>英伟达股价涨超3%创新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-04 21:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Nvidia shares rose more than 3% to a new high&nbsp;in&nbsp;morning trading</p><p><blockquote>英伟达股价早盘涨超3%创新高</blockquote></p><p> <img src=\"https://static.tigerbbs.com/91f537d50834f0a84524b9b13559b91e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120921072","content_text":"Nvidia shares rose more than 3% to a new high in morning trading","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":3592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823752410,"gmtCreate":1633665537432,"gmtModify":1633665796196,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823752410","repostId":"1194871753","repostType":4,"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823752585,"gmtCreate":1633665526667,"gmtModify":1633665796538,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823752585","repostId":"1194871753","repostType":4,"repost":{"id":"1194871753","kind":"news","pubTimestamp":1633664026,"share":"https://www.laohu8.com/m/news/1194871753?lang=zh_CN&edition=full","pubTime":"2021-10-08 11:33","market":"us","language":"en","title":"Buffett pal Charlie Munger is doubling down on Alibaba bet<blockquote>巴菲特好友查理·芒格加倍押注阿里巴巴-SW</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194871753","media":"CNN Business","summary":"New York (CNN Business) - Charlie Munger, the 97-year old vice chairman of Warren Buffett'sBerkshire","content":"<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Charlie Munger, the 97-year old vice chairman of Warren Buffett'sBerkshire Hathaway, has long been bullish on China's economy. Now, Munger is putting more of his own firm's money into one of China's most well-known stocks: Alibaba.</p><p><blockquote><b>纽约（CNN商业）——</b>沃伦·巴菲特旗下伯克希尔·哈撒韦公司97岁的副董事长查理·芒格长期以来一直看好中国经济。现在，芒格将自己公司的更多资金投入到中国最知名的股票之一：阿里巴巴-SW。</blockquote></p><p> Munger's newspaper publisher and investment firm&nbsp;Daily Journal&nbsp;revealed in a&nbsp;regulatory filing&nbsp;earlier this week that it boosted its position in&nbsp;Alibaba&nbsp;by nearly 83% in the third quarter.</p><p><blockquote>芒格旗下的报纸出版商和投资公司Daily Journal在本周早些时候的一份监管文件中透露，该公司第三季度将其在阿里巴巴-SW的持仓增加了近83%。</blockquote></p><p> Daily Journal now owns more than 302,000 shares of the Chinese e-commerce and cloud giant, almost doubling its position of 165,000 shares in the second quarter. The company's Alibaba stake is now worth about $45 million.</p><p><blockquote>Daily Journal目前持有这家中国电子商务和云巨头超过302,000股，几乎是第二季度165,000股持仓的两倍。该公司持有的阿里巴巴-SW股份目前价值约4500万美元。</blockquote></p><p> Shares of Alibaba surged nearly 9% Thursday and have gained more than 12% since Tuesday, the day that Daily Journal disclosed its increased stake in the company.</p><p><blockquote>阿里巴巴-SW股价周四飙升近9%，自周二《每日日报》披露增持该公司股份以来已上涨超过12%。</blockquote></p><p> Notably, Alibaba is the only stock that Daily Journal boosted its position in during the third quarter. Munger's firm held steady with stakes in four other companies: financial giantsBank of America,US Bancorp&nbsp;and&nbsp;Wells Fargo&nbsp;as well as South Korean steelmaker&nbsp;Posco.</p><p><blockquote>值得注意的是，阿里巴巴-SW是《每日日报》第三季度唯一增持的股票。芒格的公司保持稳定，持有其他四家公司的股份：金融巨头美国银行、美国合众银行和富国银行以及韩国钢铁制造商浦项制铁。</blockquote></p><p> Alibaba isn't the only top Chinese stock to rally in recent days.</p><p><blockquote>阿里巴巴-SW并不是最近几天唯一上涨的中国顶级股票。</blockquote></p><p> Rival digital retailers&nbsp;JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;as well as tech firms&nbsp;Baidu&nbsp;and&nbsp;Tencent&nbsp;have surged too.</p><p><blockquote>竞争对手数字零售商京东。com和拼多多以及科技公司百度和腾讯控股也出现了飙升。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett pal Charlie Munger is doubling down on Alibaba bet<blockquote>巴菲特好友查理·芒格加倍押注阿里巴巴-SW</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett pal Charlie Munger is doubling down on Alibaba bet<blockquote>巴菲特好友查理·芒格加倍押注阿里巴巴-SW</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-10-08 11:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Charlie Munger, the 97-year old vice chairman of Warren Buffett'sBerkshire Hathaway, has long been bullish on China's economy. Now, Munger is putting more of his own firm's money into one of China's most well-known stocks: Alibaba.</p><p><blockquote><b>纽约（CNN商业）——</b>沃伦·巴菲特旗下伯克希尔·哈撒韦公司97岁的副董事长查理·芒格长期以来一直看好中国经济。现在，芒格将自己公司的更多资金投入到中国最知名的股票之一：阿里巴巴-SW。</blockquote></p><p> Munger's newspaper publisher and investment firm&nbsp;Daily Journal&nbsp;revealed in a&nbsp;regulatory filing&nbsp;earlier this week that it boosted its position in&nbsp;Alibaba&nbsp;by nearly 83% in the third quarter.</p><p><blockquote>芒格旗下的报纸出版商和投资公司Daily Journal在本周早些时候的一份监管文件中透露，该公司第三季度将其在阿里巴巴-SW的持仓增加了近83%。</blockquote></p><p> Daily Journal now owns more than 302,000 shares of the Chinese e-commerce and cloud giant, almost doubling its position of 165,000 shares in the second quarter. The company's Alibaba stake is now worth about $45 million.</p><p><blockquote>Daily Journal目前持有这家中国电子商务和云巨头超过302,000股，几乎是第二季度165,000股持仓的两倍。该公司持有的阿里巴巴-SW股份目前价值约4500万美元。</blockquote></p><p> Shares of Alibaba surged nearly 9% Thursday and have gained more than 12% since Tuesday, the day that Daily Journal disclosed its increased stake in the company.</p><p><blockquote>阿里巴巴-SW股价周四飙升近9%，自周二《每日日报》披露增持该公司股份以来已上涨超过12%。</blockquote></p><p> Notably, Alibaba is the only stock that Daily Journal boosted its position in during the third quarter. Munger's firm held steady with stakes in four other companies: financial giantsBank of America,US Bancorp&nbsp;and&nbsp;Wells Fargo&nbsp;as well as South Korean steelmaker&nbsp;Posco.</p><p><blockquote>值得注意的是，阿里巴巴-SW是《每日日报》第三季度唯一增持的股票。芒格的公司保持稳定，持有其他四家公司的股份：金融巨头美国银行、美国合众银行和富国银行以及韩国钢铁制造商浦项制铁。</blockquote></p><p> Alibaba isn't the only top Chinese stock to rally in recent days.</p><p><blockquote>阿里巴巴-SW并不是最近几天唯一上涨的中国顶级股票。</blockquote></p><p> Rival digital retailers&nbsp;JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;as well as tech firms&nbsp;Baidu&nbsp;and&nbsp;Tencent&nbsp;have surged too.</p><p><blockquote>竞争对手数字零售商京东。com和拼多多以及科技公司百度和腾讯控股也出现了飙升。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/10/07/investing/charlie-munger-alibaba-china-stocks/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://edition.cnn.com/2021/10/07/investing/charlie-munger-alibaba-china-stocks/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194871753","content_text":"New York (CNN Business) - Charlie Munger, the 97-year old vice chairman of Warren Buffett'sBerkshire Hathaway, has long been bullish on China's economy. Now, Munger is putting more of his own firm's money into one of China's most well-known stocks: Alibaba.\nMunger's newspaper publisher and investment firm Daily Journal revealed in a regulatory filing earlier this week that it boosted its position in Alibaba by nearly 83% in the third quarter.\nDaily Journal now owns more than 302,000 shares of the Chinese e-commerce and cloud giant, almost doubling its position of 165,000 shares in the second quarter. The company's Alibaba stake is now worth about $45 million.\nShares of Alibaba surged nearly 9% Thursday and have gained more than 12% since Tuesday, the day that Daily Journal disclosed its increased stake in the company.\nNotably, Alibaba is the only stock that Daily Journal boosted its position in during the third quarter. Munger's firm held steady with stakes in four other companies: financial giantsBank of America,US Bancorp and Wells Fargo as well as South Korean steelmaker Posco.\nAlibaba isn't the only top Chinese stock to rally in recent days.\nRival digital retailers JD.com and Pinduoduo as well as tech firms Baidu and Tencent have surged too.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823305870,"gmtCreate":1633578154739,"gmtModify":1633584394342,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823305870","repostId":"1131458105","repostType":4,"repost":{"id":"1131458105","kind":"news","pubTimestamp":1633575480,"share":"https://www.laohu8.com/m/news/1131458105?lang=zh_CN&edition=full","pubTime":"2021-10-07 10:58","market":"us","language":"en","title":"Palantir: What Does The Latest $823 Million Military Contract Win Imply?<blockquote>Palantir：最新赢得的8.23亿美元军事合同意味着什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131458105","media":"Seeking Alpha","summary":"Summary\n\nPalantir's stock has rallied by as much as 14% in pre-market trading after announcing a $82","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir's stock has rallied by as much as 14% in pre-market trading after announcing a $823 million contract win with the U.S. Army on Tuesday.</li>  <li>The announcement further bolsters Palantir’s continued efforts in recent years to increase its market share of annual U.S. Defense spending, which currently sits at more than $700 billion.</li>  <li>A look back on Palantir's military contract wins in recent years show how its cutting-edge technological competencies have disrupted one of the most closed-off markets in the world.</li>  <li>Paired with the Pentagon's increasing demand for innovation to support government intelligence needs, and a Defense budget that favours investments in forward-looking technologies like AI, Palantir is well-positioned for&nbsp;significant upside realization going into the next decade.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0903228e36df9ae0362f3c441df8cead\" tg-width=\"1536\" tg-height=\"1025\" width=\"100%\" height=\"auto\"><span>Andreas Rentz/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir宣布与美国赢得8.23亿美元合同后，其股价在盘前交易中上涨了14%。周二参军。</li><li>这一公告进一步支持了Palantir近年来不断努力增加其在美国年度国防开支中的市场份额，目前美国年度国防开支超过7000亿美元。</li><li>回顾Palantir近年来赢得的军事合同，可以看出其尖端技术能力如何扰乱了世界上最封闭的市场之一。</li><li>再加上五角大楼对支持政府情报需求的创新需求不断增长，以及有利于投资人工智能等前瞻性技术的国防预算，Palantir处于有利地位，可以在未来十年实现显着的上行空间。</li></ul><p class=\"t-img-caption\"><span>安德烈亚斯·伦茨/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir's stock(NYSE:PLTR)rallied by as much as 14% in pre-market trading on Tuesday after announcing a&nbsp;$823 million contract win&nbsp;with the U.S. Army. Palantir has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to facilitate deployment of the “Capability Drop 2 Program” (“CD-2 program”). The Army Intelligence community will be leveraging Palantir’s&nbsp;Gotham&nbsp;platform to consolidate data from disparate databases, and create a “data fabric and analytics foundation” for the CD-2 program, which will be used to enable data modernization and analytic capabilities required for preparing against future threats to national security.</p><p><blockquote>Palantir(NYSE：PLTR)宣布与美国陆军签订价值8.23亿美元的合同后，其股价周二在盘前交易中上涨14%。Palantir已被美国陆军情报系统和分析项目经理选中，以促进“能力下降2计划”（“CD-2计划”）的部署。陆军情报界将利用Palantir的Gotham平台来整合来自不同数据库的数据，并为CD-2计划创建“数据结构和分析基础”，该基础将用于实现应对未来威胁所需的数据现代化和分析能力。国家安全。</blockquote></p><p> The announcement further bolsters Palantir’s continued efforts in recent years to increasing its market share of annual U.S. defense spending, which currently sits at&nbsp;more than $700 billion. The Silicon Valley start-up turned tech unicorn has time and again put giant military supply companies on notice with notable contract wins in recent years. The giant military suppliers have long-dominated the industry with their “deep connections, [and] decades of experience with government buying processes”. While Palantir’s current revenues generated from government contracts remain a nominal portion of total U.S. annual defense spending, the recent deal represents an inflection point for the military intelligence supply industry, and paves the foundation for greater market penetration in the foreseeable future.</p><p><blockquote>这一公告进一步支持了Palantir近年来不断努力增加其在美国年度国防开支中的市场份额，目前美国年度国防开支超过7000亿美元。这家硅谷初创企业转型为科技独角兽，近年来赢得了大量合同，多次引起大型军事供应公司的注意。大型军事供应商凭借其“深厚的联系和数十年的政府采购流程经验”长期以来主导着该行业。虽然Palantir目前来自政府合同的收入仍占美国年度国防支出总额的名义部分，但最近的交易代表了军事情报供应行业的一个拐点，并为在可预见的未来更大的市场渗透率奠定了基础。</blockquote></p><p> Palantir’s recent milestone only bolsters our bullish outlook on the stock. We remain confident on a 12-month price target of $28.18, with a longer-term upside realization trajectory that points towards $46.30 as discussed in detail in our&nbsp;previous coverage&nbsp;on the stock.</p><p><blockquote>Palantir最近的里程碑只会增强我们对该股的看涨前景。我们对28.18美元的12个月目标价仍然充满信心，长期上涨实现轨迹指向46.30美元，正如我们之前对该股的报道中详细讨论的那样。</blockquote></p><p> <b>Palantir’s History of Key Government Contract Wins</b></p><p><blockquote><b>Palantir赢得重要政府合同的历史</b></blockquote></p><p> Palantir’s government business segment continues to dominate its consolidated revenue growth. During the second quarter, Palantir generated government revenues of $232 million, representing year-over-year growth of more than 66%. Much of this revenue growth was achieved through new government contracts, like the&nbsp;$90 million five-year deal&nbsp;inked with the National Nuclear Security Administration earlier this year, in addition to&nbsp;many other existing long-term arrangements&nbsp;like the following:</p><p><blockquote>Palantir的政府业务部门继续主导其综合收入增长。第二季度，Palantir为政府创造了2.32亿美元的收入，同比增长超过66%。大部分收入增长是通过新的政府合同实现的，例如今年早些时候与国家核安全局签署的价值9000万美元的五年期协议，此外还有许多其他现有的长期安排，例如：</blockquote></p><p></p><p> <ul>  <li>2019 Pentagon Deal&nbsp;– Palantir was awarded a four-year contract valued at $440 million to provide a system that can link “human resources, supply chains and other Army operations systems into a single dashboard”.</li>  <li>2020 Army Network Modernization Contract&nbsp;– Palantir was selected by the Army Futures Command to deploy its Gotham platform, designed for government and military use, in modernizing the U.S. Army’s battlefield network. Under the arrangement, Gotham will be used with the Army’s “Command Post Computing Environment” (“CPCE”) system to consolidate data from various battlefield networks into one, creating a “Common Data Fabric”.</li>  <li>2020 U.S. Navy NOBLE Contract&nbsp;– Palantir beat a major U.S. defense contractor, Raytheon(NYSE:RTX), in securing its first contract with the U.S. Navy last year. Similar to the Army Network Modernization Contract, the $80 million sole-source contract calls for the deployment of Gotham to consolidate data on the U.S. Navy’s warships and aircrafts scattered around the world into one operating system called the “Naval Operational Business Logistics Enterprise” (“NOBLE”). The success of this collaboration will also be fundamental to the Navy’s ultimate integration of AI into its modernized network.</li>  <li>2020 Contract for upgrading the “Distributed Common Ground System” (“DCGS”)&nbsp;– Palantir, along with British defense and security contractor BAE Systems, was awarded an $823 million “firm-fixed-price” contract to facilitate the build out of the DCGS system. Under the arrangement, both companies will “compete for orders to build out the strategic data platform for the system”, which will be used for deploying information and intelligence to command posts around the world. Palantir’s most recent contract win on Tuesday was actually an update to the existing arrangement, where it has been selected as the sole data analytics platform provider for the CD-2 program. The CD-2 program will also be used to support the “Joint All Domain Operations” (“JADC2”). JADC2 is an ongoing campaign implemented by the Pentagon to connect sensors from every U.S. military agency into one consolidated network, which will enable a quick and streamlined sensor-to-shooter connection using data and AI processing in which Palantir is also a participating partner in.</li> </ul> <b>What do these Milestones Imply?</b></p><p><blockquote><ul><li>2019年五角大楼交易——Palantir获得了一份价值4.4亿美元的为期四年的合同，提供一个可以将“人力资源、供应链和其他陆军运营系统链接到一个仪表板中”的系统。</li><li>2020年陆军网络现代化合同——Palantir被陆军未来司令部选中部署其Gotham平台，该平台专为政府和军队使用而设计，用于美国陆军战场网络的现代化。根据安排，Gotham将与陆军的“指挥所计算环境”（“CPCE”）系统一起使用，将来自各个战场网络的数据整合为一个，创建一个“通用数据结构”。</li><li>2020年美国海军贵族合同-Palantir去年击败了美国主要国防承包商雷神公司（纽约证券交易所股票代码：RTX），获得了与美国海军的第一份合同。与陆军网络现代化合同类似，8000万美元的唯一来源合同评级部署哥谭，将美国海军分散在世界各地的军舰和飞机的数据整合到一个名为“海军作战业务后勤企业”（“NOBLE”）的操作系统中。此次合作的成功也将是海军最终将人工智能集成到其现代化网络中的基础。</li><li>2020年“分布式公共地面系统”（“DCGS”）升级合同——Palantir与英国国防和安全承包商BAE Systems一起获得了一份价值8.23亿美元的“固定价格”合同，以促进DCGS系统的建设。根据该安排，两家公司将“争夺为该系统构建战略数据平台的订单”，该平台将用于向世界各地的指挥所部署信息和情报。Palantir周二赢得的最新合同实际上是对现有安排的更新，它已被选为CD-2计划的唯一数据分析平台提供商。CD-2计划还将用于支持“联合全域作战”（“JADC2”）。JADC2是五角大楼正在实施的一项活动，旨在将美国每个军事机构的传感器连接到一个统一的网络中，这将使用数据和人工智能处理实现快速、简化的传感器到射手的连接，Palantir也是其中的参与合作伙伴。</li></ul><b>这些里程碑意味着什么？</b></blockquote></p><p> Data is the strongest link in aligning U.S. foreign policy with the country’s national security goals. This underscores why making sense of data, and using it to drive decision-making processes remains a top priority for the Defense Department. And this has increased their urgency in recent years to reconnect the fragmented nature of databases set up across their sub-departments, a common theme in Palantir’s government contract wins discussed above.</p><p><blockquote>数据是使美国外交政策与国家安全目标保持一致的最强有力的纽带。这强调了为什么理解数据并利用它来推动决策过程仍然是国防部的首要任务。近年来，这增加了他们重新连接跨子部门建立的数据库的碎片性质的紧迫性，这是上面讨论的Palantir赢得政府合同的一个共同主题。</blockquote></p><p> The government agency’s increasing collaboration with Palantir in recent years is a testament to Gotham’s proven effectiveness in addressing the U.S. Army’s headache with their disparate data sources. And this should put defense contractors, which have long dominated the industry, on notice.</p><p><blockquote>近年来，该政府机构与Palantir的合作不断增加，这证明了Gotham在利用不同的数据源解决美国陆军令人头疼的问题方面的有效性。这应该会引起长期以来主导该行业的国防承包商的注意。</blockquote></p><p> Palantir’s win over Raytheon for the NOBLE contract in 2020, and recent win over BAE Systems for the CD-2 contract marks a clear inflection point for the defense industry. When Palantir beat Raytheon in 2020, the U.S. Navy commended Palantir for being the only bidder that was able to “eliminate the redundant, resource-intensive, and stove-piped systems” that the agency’s legacy network had relied on. And Tuesday’s contract win further proves Gotham’s competency and effectiveness in supporting the army’s network modernization efforts, while also enabling time and cost-efficiencies. Palantir’s recent contract wins over the tight-knitted group of defense contractors that have historically dominated the industry is a clear sign that the latter’s technological competency in data management and analytics is just not where it needs to be yet in order to satisfy the U.S. Army’s network modernization needs. Time and again, Palantir has proven to the Defense Department that while taking advantage of data is a complex process, it has the technological capacity and resources to link and make sense of the vast troves of information without compromising on time- and cost-efficiencies. Palantir’s recent contract wins also foreshadow the Defense Department’s pivot towards increasing collaborations with software and innovation-driven technology partners to modernize and enhance their current “command and control” architecture. And this puts Palantir closer to their goal of becoming the “central operating system for all U.S. defense programs” than ever before.</p><p><blockquote>Palantir在2020年赢得了雷神公司的NOBLE合同，以及最近在CD-2合同上击败了BAE Systems，标志着国防工业的一个明显拐点。当Palantir在2020年击败雷神公司时，美国海军称赞Palantir是唯一能够“消除该机构遗留网络所依赖的冗余、资源密集型和烟囱式系统”的投标人。周二赢得的合同进一步证明了哥谭在支持陆军网络现代化工作方面的能力和有效性，同时也实现了时间和成本效益。Palantir最近的合同战胜了历史上主导该行业的紧密国防承包商群体，这清楚地表明后者在数据管理和分析方面的技术能力尚未达到满足美国陆军网络现代化所需的水平。Palantir一次又一次地向国防部证明，虽然利用数据是一个复杂的过程，但它拥有技术能力和资源来链接和理解大量信息，而不会影响时间和成本效率。Palantir最近赢得的合同也预示着国防部将转向加强与软件和创新驱动的技术合作伙伴的合作，以实现其当前“指挥和控制”架构的现代化和增强。这使得Palantir比以往任何时候都更接近他们成为“所有美国国防项目的中央操作系统”的目标。</blockquote></p><p> <b>What Does President Biden’s Fiscal 2022 Defense Budget Mean for Palantir?</b></p><p><blockquote><b>拜登总统的2022财年国防预算对Palantir意味着什么？</b></blockquote></p><p></p><p> President Biden’s proposed budget for the U.S. Department of Defense in the coming fiscal year also implies the government’s increasing preference for innovation, which makes strong tailwinds for Palantir. The $706 billion budgeted for fiscal 2022 remains relatively flat from the fiscal 2021 budget, and even reflects a&nbsp;slight decrease&nbsp;if adjusted for inflation. Coupled with a goal to invest more heavily in new technologies products like AI and hypersonic weapons, it is clear the government is looking to achieve more while spending less. And only the accelerated adoption of innovative software and systems like those provided by Palantir can enable that kind of time- and cost-efficiencies.</p><p><blockquote>拜登总统提出的美国预算。国防部在下一财年的表现也意味着政府对创新的偏好日益增强，这为Palantir带来了强劲的推动力。2022财年的7060亿美元预算与2021财年预算相比相对持平，如果根据通胀进行调整，甚至略有下降。再加上对人工智能和高超音速武器等新技术产品进行更多投资的目标，很明显，政府希望以更少的支出实现更多目标。只有加速采用Palantir提供的创新软件和系统，才能实现这种时间和成本效益。</blockquote></p><p> The Pentagon’s&nbsp;growing acceptance of innovators&nbsp;is further corroborated by their generosity in supporting more than 1,600 software-as-a-service start-ups last year with $1.5 billion in direct funding. A number of defense contracts valued at up to $3 million each have also been set aside for early-stage companies within the sector, indicating the agency’s active efforts in breaking the high barriers of entry that the giant defense contractors have historically built. This signals that a greater market of opportunities from the U.S. Department of Defense is coming Palantir’s way, underpinning additional growth in the foreseeable future.</p><p><blockquote>五角大楼对创新者的接受度越来越高，这进一步证实了他们去年慷慨地支持了1600多家软件即服务初创企业，提供了15亿美元的直接资金。还为该行业的早期公司预留了一些每份价值高达300万美元的国防合同，这表明该机构正在积极努力打破大型国防承包商历史上建立的高进入壁垒。这标志着来自美国的更大市场机会。国防部正在追随Palantir的脚步，支撑在可预见的未来进一步增长。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> With Palantir’s current government revenues representing only 1/10thof a percent of total U.S. annual defense spending, there is still significant headroom for market penetration. And Palantir’s track record in assisting the network modernization efforts across various U.S. military agencies, paired with the Defense Department’s increasing demand for innovation to support their intelligence needs further bolsters the company’s long-term growth outlook. Palantir’s government contract capabilities, which currently leads the company’s revenue growth, is also expected to encourage broader adoption of its software offerings and drive adjacent revenues to its commercial business. We believe Palantir, both the company and the stock, is only starting to scratch the surface of its growth potential, and is slated for significant upside realization going into the next decade.</p><p><blockquote>Palantir目前的政府收入仅占美国年度国防开支总额的1/10，因此市场渗透仍有很大的空间。Palantir在协助美国各军事机构网络现代化工作方面的记录，加上国防部对支持其情报需求的创新需求不断增长，进一步增强了该公司的长期增长前景。Palantir的政府合同能力目前引领着该公司的收入增长，预计也将鼓励更广泛地采用其软件产品，并推动其商业业务的相邻收入。我们相信Palantir，无论是公司还是股票，都只是刚刚开始触及其增长潜力的表面，预计将在未来十年实现显着的上涨。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: What Does The Latest $823 Million Military Contract Win Imply?<blockquote>Palantir：最新赢得的8.23亿美元军事合同意味着什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: What Does The Latest $823 Million Military Contract Win Imply?<blockquote>Palantir：最新赢得的8.23亿美元军事合同意味着什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-10-07 10:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir's stock has rallied by as much as 14% in pre-market trading after announcing a $823 million contract win with the U.S. Army on Tuesday.</li>  <li>The announcement further bolsters Palantir’s continued efforts in recent years to increase its market share of annual U.S. Defense spending, which currently sits at more than $700 billion.</li>  <li>A look back on Palantir's military contract wins in recent years show how its cutting-edge technological competencies have disrupted one of the most closed-off markets in the world.</li>  <li>Paired with the Pentagon's increasing demand for innovation to support government intelligence needs, and a Defense budget that favours investments in forward-looking technologies like AI, Palantir is well-positioned for&nbsp;significant upside realization going into the next decade.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0903228e36df9ae0362f3c441df8cead\" tg-width=\"1536\" tg-height=\"1025\" width=\"100%\" height=\"auto\"><span>Andreas Rentz/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir宣布与美国赢得8.23亿美元合同后，其股价在盘前交易中上涨了14%。周二参军。</li><li>这一公告进一步支持了Palantir近年来不断努力增加其在美国年度国防开支中的市场份额，目前美国年度国防开支超过7000亿美元。</li><li>回顾Palantir近年来赢得的军事合同，可以看出其尖端技术能力如何扰乱了世界上最封闭的市场之一。</li><li>再加上五角大楼对支持政府情报需求的创新需求不断增长，以及有利于投资人工智能等前瞻性技术的国防预算，Palantir处于有利地位，可以在未来十年实现显着的上行空间。</li></ul><p class=\"t-img-caption\"><span>安德烈亚斯·伦茨/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir's stock(NYSE:PLTR)rallied by as much as 14% in pre-market trading on Tuesday after announcing a&nbsp;$823 million contract win&nbsp;with the U.S. Army. Palantir has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to facilitate deployment of the “Capability Drop 2 Program” (“CD-2 program”). The Army Intelligence community will be leveraging Palantir’s&nbsp;Gotham&nbsp;platform to consolidate data from disparate databases, and create a “data fabric and analytics foundation” for the CD-2 program, which will be used to enable data modernization and analytic capabilities required for preparing against future threats to national security.</p><p><blockquote>Palantir(NYSE：PLTR)宣布与美国陆军签订价值8.23亿美元的合同后，其股价周二在盘前交易中上涨14%。Palantir已被美国陆军情报系统和分析项目经理选中，以促进“能力下降2计划”（“CD-2计划”）的部署。陆军情报界将利用Palantir的Gotham平台来整合来自不同数据库的数据，并为CD-2计划创建“数据结构和分析基础”，该基础将用于实现应对未来威胁所需的数据现代化和分析能力。国家安全。</blockquote></p><p> The announcement further bolsters Palantir’s continued efforts in recent years to increasing its market share of annual U.S. defense spending, which currently sits at&nbsp;more than $700 billion. The Silicon Valley start-up turned tech unicorn has time and again put giant military supply companies on notice with notable contract wins in recent years. The giant military suppliers have long-dominated the industry with their “deep connections, [and] decades of experience with government buying processes”. While Palantir’s current revenues generated from government contracts remain a nominal portion of total U.S. annual defense spending, the recent deal represents an inflection point for the military intelligence supply industry, and paves the foundation for greater market penetration in the foreseeable future.</p><p><blockquote>这一公告进一步支持了Palantir近年来不断努力增加其在美国年度国防开支中的市场份额，目前美国年度国防开支超过7000亿美元。这家硅谷初创企业转型为科技独角兽，近年来赢得了大量合同，多次引起大型军事供应公司的注意。大型军事供应商凭借其“深厚的联系和数十年的政府采购流程经验”长期以来主导着该行业。虽然Palantir目前来自政府合同的收入仍占美国年度国防支出总额的名义部分，但最近的交易代表了军事情报供应行业的一个拐点，并为在可预见的未来更大的市场渗透率奠定了基础。</blockquote></p><p> Palantir’s recent milestone only bolsters our bullish outlook on the stock. We remain confident on a 12-month price target of $28.18, with a longer-term upside realization trajectory that points towards $46.30 as discussed in detail in our&nbsp;previous coverage&nbsp;on the stock.</p><p><blockquote>Palantir最近的里程碑只会增强我们对该股的看涨前景。我们对28.18美元的12个月目标价仍然充满信心，长期上涨实现轨迹指向46.30美元，正如我们之前对该股的报道中详细讨论的那样。</blockquote></p><p> <b>Palantir’s History of Key Government Contract Wins</b></p><p><blockquote><b>Palantir赢得重要政府合同的历史</b></blockquote></p><p> Palantir’s government business segment continues to dominate its consolidated revenue growth. During the second quarter, Palantir generated government revenues of $232 million, representing year-over-year growth of more than 66%. Much of this revenue growth was achieved through new government contracts, like the&nbsp;$90 million five-year deal&nbsp;inked with the National Nuclear Security Administration earlier this year, in addition to&nbsp;many other existing long-term arrangements&nbsp;like the following:</p><p><blockquote>Palantir的政府业务部门继续主导其综合收入增长。第二季度，Palantir为政府创造了2.32亿美元的收入，同比增长超过66%。大部分收入增长是通过新的政府合同实现的，例如今年早些时候与国家核安全局签署的价值9000万美元的五年期协议，此外还有许多其他现有的长期安排，例如：</blockquote></p><p></p><p> <ul>  <li>2019 Pentagon Deal&nbsp;– Palantir was awarded a four-year contract valued at $440 million to provide a system that can link “human resources, supply chains and other Army operations systems into a single dashboard”.</li>  <li>2020 Army Network Modernization Contract&nbsp;– Palantir was selected by the Army Futures Command to deploy its Gotham platform, designed for government and military use, in modernizing the U.S. Army’s battlefield network. Under the arrangement, Gotham will be used with the Army’s “Command Post Computing Environment” (“CPCE”) system to consolidate data from various battlefield networks into one, creating a “Common Data Fabric”.</li>  <li>2020 U.S. Navy NOBLE Contract&nbsp;– Palantir beat a major U.S. defense contractor, Raytheon(NYSE:RTX), in securing its first contract with the U.S. Navy last year. Similar to the Army Network Modernization Contract, the $80 million sole-source contract calls for the deployment of Gotham to consolidate data on the U.S. Navy’s warships and aircrafts scattered around the world into one operating system called the “Naval Operational Business Logistics Enterprise” (“NOBLE”). The success of this collaboration will also be fundamental to the Navy’s ultimate integration of AI into its modernized network.</li>  <li>2020 Contract for upgrading the “Distributed Common Ground System” (“DCGS”)&nbsp;– Palantir, along with British defense and security contractor BAE Systems, was awarded an $823 million “firm-fixed-price” contract to facilitate the build out of the DCGS system. Under the arrangement, both companies will “compete for orders to build out the strategic data platform for the system”, which will be used for deploying information and intelligence to command posts around the world. Palantir’s most recent contract win on Tuesday was actually an update to the existing arrangement, where it has been selected as the sole data analytics platform provider for the CD-2 program. The CD-2 program will also be used to support the “Joint All Domain Operations” (“JADC2”). JADC2 is an ongoing campaign implemented by the Pentagon to connect sensors from every U.S. military agency into one consolidated network, which will enable a quick and streamlined sensor-to-shooter connection using data and AI processing in which Palantir is also a participating partner in.</li> </ul> <b>What do these Milestones Imply?</b></p><p><blockquote><ul><li>2019年五角大楼交易——Palantir获得了一份价值4.4亿美元的为期四年的合同，提供一个可以将“人力资源、供应链和其他陆军运营系统链接到一个仪表板中”的系统。</li><li>2020年陆军网络现代化合同——Palantir被陆军未来司令部选中部署其Gotham平台，该平台专为政府和军队使用而设计，用于美国陆军战场网络的现代化。根据安排，Gotham将与陆军的“指挥所计算环境”（“CPCE”）系统一起使用，将来自各个战场网络的数据整合为一个，创建一个“通用数据结构”。</li><li>2020年美国海军贵族合同-Palantir去年击败了美国主要国防承包商雷神公司（纽约证券交易所股票代码：RTX），获得了与美国海军的第一份合同。与陆军网络现代化合同类似，8000万美元的唯一来源合同评级部署哥谭，将美国海军分散在世界各地的军舰和飞机的数据整合到一个名为“海军作战业务后勤企业”（“NOBLE”）的操作系统中。此次合作的成功也将是海军最终将人工智能集成到其现代化网络中的基础。</li><li>2020年“分布式公共地面系统”（“DCGS”）升级合同——Palantir与英国国防和安全承包商BAE Systems一起获得了一份价值8.23亿美元的“固定价格”合同，以促进DCGS系统的建设。根据该安排，两家公司将“争夺为该系统构建战略数据平台的订单”，该平台将用于向世界各地的指挥所部署信息和情报。Palantir周二赢得的最新合同实际上是对现有安排的更新，它已被选为CD-2计划的唯一数据分析平台提供商。CD-2计划还将用于支持“联合全域作战”（“JADC2”）。JADC2是五角大楼正在实施的一项活动，旨在将美国每个军事机构的传感器连接到一个统一的网络中，这将使用数据和人工智能处理实现快速、简化的传感器到射手的连接，Palantir也是其中的参与合作伙伴。</li></ul><b>这些里程碑意味着什么？</b></blockquote></p><p> Data is the strongest link in aligning U.S. foreign policy with the country’s national security goals. This underscores why making sense of data, and using it to drive decision-making processes remains a top priority for the Defense Department. And this has increased their urgency in recent years to reconnect the fragmented nature of databases set up across their sub-departments, a common theme in Palantir’s government contract wins discussed above.</p><p><blockquote>数据是使美国外交政策与国家安全目标保持一致的最强有力的纽带。这强调了为什么理解数据并利用它来推动决策过程仍然是国防部的首要任务。近年来，这增加了他们重新连接跨子部门建立的数据库的碎片性质的紧迫性，这是上面讨论的Palantir赢得政府合同的一个共同主题。</blockquote></p><p> The government agency’s increasing collaboration with Palantir in recent years is a testament to Gotham’s proven effectiveness in addressing the U.S. Army’s headache with their disparate data sources. And this should put defense contractors, which have long dominated the industry, on notice.</p><p><blockquote>近年来，该政府机构与Palantir的合作不断增加，这证明了Gotham在利用不同的数据源解决美国陆军令人头疼的问题方面的有效性。这应该会引起长期以来主导该行业的国防承包商的注意。</blockquote></p><p> Palantir’s win over Raytheon for the NOBLE contract in 2020, and recent win over BAE Systems for the CD-2 contract marks a clear inflection point for the defense industry. When Palantir beat Raytheon in 2020, the U.S. Navy commended Palantir for being the only bidder that was able to “eliminate the redundant, resource-intensive, and stove-piped systems” that the agency’s legacy network had relied on. And Tuesday’s contract win further proves Gotham’s competency and effectiveness in supporting the army’s network modernization efforts, while also enabling time and cost-efficiencies. Palantir’s recent contract wins over the tight-knitted group of defense contractors that have historically dominated the industry is a clear sign that the latter’s technological competency in data management and analytics is just not where it needs to be yet in order to satisfy the U.S. Army’s network modernization needs. Time and again, Palantir has proven to the Defense Department that while taking advantage of data is a complex process, it has the technological capacity and resources to link and make sense of the vast troves of information without compromising on time- and cost-efficiencies. Palantir’s recent contract wins also foreshadow the Defense Department’s pivot towards increasing collaborations with software and innovation-driven technology partners to modernize and enhance their current “command and control” architecture. And this puts Palantir closer to their goal of becoming the “central operating system for all U.S. defense programs” than ever before.</p><p><blockquote>Palantir在2020年赢得了雷神公司的NOBLE合同，以及最近在CD-2合同上击败了BAE Systems，标志着国防工业的一个明显拐点。当Palantir在2020年击败雷神公司时，美国海军称赞Palantir是唯一能够“消除该机构遗留网络所依赖的冗余、资源密集型和烟囱式系统”的投标人。周二赢得的合同进一步证明了哥谭在支持陆军网络现代化工作方面的能力和有效性，同时也实现了时间和成本效益。Palantir最近的合同战胜了历史上主导该行业的紧密国防承包商群体，这清楚地表明后者在数据管理和分析方面的技术能力尚未达到满足美国陆军网络现代化所需的水平。Palantir一次又一次地向国防部证明，虽然利用数据是一个复杂的过程，但它拥有技术能力和资源来链接和理解大量信息，而不会影响时间和成本效率。Palantir最近赢得的合同也预示着国防部将转向加强与软件和创新驱动的技术合作伙伴的合作，以实现其当前“指挥和控制”架构的现代化和增强。这使得Palantir比以往任何时候都更接近他们成为“所有美国国防项目的中央操作系统”的目标。</blockquote></p><p> <b>What Does President Biden’s Fiscal 2022 Defense Budget Mean for Palantir?</b></p><p><blockquote><b>拜登总统的2022财年国防预算对Palantir意味着什么？</b></blockquote></p><p></p><p> President Biden’s proposed budget for the U.S. Department of Defense in the coming fiscal year also implies the government’s increasing preference for innovation, which makes strong tailwinds for Palantir. The $706 billion budgeted for fiscal 2022 remains relatively flat from the fiscal 2021 budget, and even reflects a&nbsp;slight decrease&nbsp;if adjusted for inflation. Coupled with a goal to invest more heavily in new technologies products like AI and hypersonic weapons, it is clear the government is looking to achieve more while spending less. And only the accelerated adoption of innovative software and systems like those provided by Palantir can enable that kind of time- and cost-efficiencies.</p><p><blockquote>拜登总统提出的美国预算。国防部在下一财年的表现也意味着政府对创新的偏好日益增强，这为Palantir带来了强劲的推动力。2022财年的7060亿美元预算与2021财年预算相比相对持平，如果根据通胀进行调整，甚至略有下降。再加上对人工智能和高超音速武器等新技术产品进行更多投资的目标，很明显，政府希望以更少的支出实现更多目标。只有加速采用Palantir提供的创新软件和系统，才能实现这种时间和成本效益。</blockquote></p><p> The Pentagon’s&nbsp;growing acceptance of innovators&nbsp;is further corroborated by their generosity in supporting more than 1,600 software-as-a-service start-ups last year with $1.5 billion in direct funding. A number of defense contracts valued at up to $3 million each have also been set aside for early-stage companies within the sector, indicating the agency’s active efforts in breaking the high barriers of entry that the giant defense contractors have historically built. This signals that a greater market of opportunities from the U.S. Department of Defense is coming Palantir’s way, underpinning additional growth in the foreseeable future.</p><p><blockquote>五角大楼对创新者的接受度越来越高，这进一步证实了他们去年慷慨地支持了1600多家软件即服务初创企业，提供了15亿美元的直接资金。还为该行业的早期公司预留了一些每份价值高达300万美元的国防合同，这表明该机构正在积极努力打破大型国防承包商历史上建立的高进入壁垒。这标志着来自美国的更大市场机会。国防部正在追随Palantir的脚步，支撑在可预见的未来进一步增长。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> With Palantir’s current government revenues representing only 1/10thof a percent of total U.S. annual defense spending, there is still significant headroom for market penetration. And Palantir’s track record in assisting the network modernization efforts across various U.S. military agencies, paired with the Defense Department’s increasing demand for innovation to support their intelligence needs further bolsters the company’s long-term growth outlook. Palantir’s government contract capabilities, which currently leads the company’s revenue growth, is also expected to encourage broader adoption of its software offerings and drive adjacent revenues to its commercial business. We believe Palantir, both the company and the stock, is only starting to scratch the surface of its growth potential, and is slated for significant upside realization going into the next decade.</p><p><blockquote>Palantir目前的政府收入仅占美国年度国防开支总额的1/10，因此市场渗透仍有很大的空间。Palantir在协助美国各军事机构网络现代化工作方面的记录，加上国防部对支持其情报需求的创新需求不断增长，进一步增强了该公司的长期增长前景。Palantir的政府合同能力目前引领着该公司的收入增长，预计也将鼓励更广泛地采用其软件产品，并推动其商业业务的相邻收入。我们相信Palantir，无论是公司还是股票，都只是刚刚开始触及其增长潜力的表面，预计将在未来十年实现显着的上涨。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4458752-palantir-what-does-the-latest-823-million-military-contract-win-imply\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4458752-palantir-what-does-the-latest-823-million-military-contract-win-imply","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131458105","content_text":"Summary\n\nPalantir's stock has rallied by as much as 14% in pre-market trading after announcing a $823 million contract win with the U.S. Army on Tuesday.\nThe announcement further bolsters Palantir’s continued efforts in recent years to increase its market share of annual U.S. Defense spending, which currently sits at more than $700 billion.\nA look back on Palantir's military contract wins in recent years show how its cutting-edge technological competencies have disrupted one of the most closed-off markets in the world.\nPaired with the Pentagon's increasing demand for innovation to support government intelligence needs, and a Defense budget that favours investments in forward-looking technologies like AI, Palantir is well-positioned for significant upside realization going into the next decade.\n\nAndreas Rentz/Getty Images Entertainment\nPalantir's stock(NYSE:PLTR)rallied by as much as 14% in pre-market trading on Tuesday after announcing a $823 million contract win with the U.S. Army. Palantir has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to facilitate deployment of the “Capability Drop 2 Program” (“CD-2 program”). The Army Intelligence community will be leveraging Palantir’s Gotham platform to consolidate data from disparate databases, and create a “data fabric and analytics foundation” for the CD-2 program, which will be used to enable data modernization and analytic capabilities required for preparing against future threats to national security.\nThe announcement further bolsters Palantir’s continued efforts in recent years to increasing its market share of annual U.S. defense spending, which currently sits at more than $700 billion. The Silicon Valley start-up turned tech unicorn has time and again put giant military supply companies on notice with notable contract wins in recent years. The giant military suppliers have long-dominated the industry with their “deep connections, [and] decades of experience with government buying processes”. While Palantir’s current revenues generated from government contracts remain a nominal portion of total U.S. annual defense spending, the recent deal represents an inflection point for the military intelligence supply industry, and paves the foundation for greater market penetration in the foreseeable future.\nPalantir’s recent milestone only bolsters our bullish outlook on the stock. We remain confident on a 12-month price target of $28.18, with a longer-term upside realization trajectory that points towards $46.30 as discussed in detail in our previous coverage on the stock.\nPalantir’s History of Key Government Contract Wins\nPalantir’s government business segment continues to dominate its consolidated revenue growth. During the second quarter, Palantir generated government revenues of $232 million, representing year-over-year growth of more than 66%. Much of this revenue growth was achieved through new government contracts, like the $90 million five-year deal inked with the National Nuclear Security Administration earlier this year, in addition to many other existing long-term arrangements like the following:\n\n2019 Pentagon Deal – Palantir was awarded a four-year contract valued at $440 million to provide a system that can link “human resources, supply chains and other Army operations systems into a single dashboard”.\n2020 Army Network Modernization Contract – Palantir was selected by the Army Futures Command to deploy its Gotham platform, designed for government and military use, in modernizing the U.S. Army’s battlefield network. Under the arrangement, Gotham will be used with the Army’s “Command Post Computing Environment” (“CPCE”) system to consolidate data from various battlefield networks into one, creating a “Common Data Fabric”.\n2020 U.S. Navy NOBLE Contract – Palantir beat a major U.S. defense contractor, Raytheon(NYSE:RTX), in securing its first contract with the U.S. Navy last year. Similar to the Army Network Modernization Contract, the $80 million sole-source contract calls for the deployment of Gotham to consolidate data on the U.S. Navy’s warships and aircrafts scattered around the world into one operating system called the “Naval Operational Business Logistics Enterprise” (“NOBLE”). The success of this collaboration will also be fundamental to the Navy’s ultimate integration of AI into its modernized network.\n2020 Contract for upgrading the “Distributed Common Ground System” (“DCGS”) – Palantir, along with British defense and security contractor BAE Systems, was awarded an $823 million “firm-fixed-price” contract to facilitate the build out of the DCGS system. Under the arrangement, both companies will “compete for orders to build out the strategic data platform for the system”, which will be used for deploying information and intelligence to command posts around the world. Palantir’s most recent contract win on Tuesday was actually an update to the existing arrangement, where it has been selected as the sole data analytics platform provider for the CD-2 program. The CD-2 program will also be used to support the “Joint All Domain Operations” (“JADC2”). JADC2 is an ongoing campaign implemented by the Pentagon to connect sensors from every U.S. military agency into one consolidated network, which will enable a quick and streamlined sensor-to-shooter connection using data and AI processing in which Palantir is also a participating partner in.\n\nWhat do these Milestones Imply?\nData is the strongest link in aligning U.S. foreign policy with the country’s national security goals. This underscores why making sense of data, and using it to drive decision-making processes remains a top priority for the Defense Department. And this has increased their urgency in recent years to reconnect the fragmented nature of databases set up across their sub-departments, a common theme in Palantir’s government contract wins discussed above.\nThe government agency’s increasing collaboration with Palantir in recent years is a testament to Gotham’s proven effectiveness in addressing the U.S. Army’s headache with their disparate data sources. And this should put defense contractors, which have long dominated the industry, on notice.\nPalantir’s win over Raytheon for the NOBLE contract in 2020, and recent win over BAE Systems for the CD-2 contract marks a clear inflection point for the defense industry. When Palantir beat Raytheon in 2020, the U.S. Navy commended Palantir for being the only bidder that was able to “eliminate the redundant, resource-intensive, and stove-piped systems” that the agency’s legacy network had relied on. And Tuesday’s contract win further proves Gotham’s competency and effectiveness in supporting the army’s network modernization efforts, while also enabling time and cost-efficiencies. Palantir’s recent contract wins over the tight-knitted group of defense contractors that have historically dominated the industry is a clear sign that the latter’s technological competency in data management and analytics is just not where it needs to be yet in order to satisfy the U.S. Army’s network modernization needs. Time and again, Palantir has proven to the Defense Department that while taking advantage of data is a complex process, it has the technological capacity and resources to link and make sense of the vast troves of information without compromising on time- and cost-efficiencies. Palantir’s recent contract wins also foreshadow the Defense Department’s pivot towards increasing collaborations with software and innovation-driven technology partners to modernize and enhance their current “command and control” architecture. And this puts Palantir closer to their goal of becoming the “central operating system for all U.S. defense programs” than ever before.\nWhat Does President Biden’s Fiscal 2022 Defense Budget Mean for Palantir?\nPresident Biden’s proposed budget for the U.S. Department of Defense in the coming fiscal year also implies the government’s increasing preference for innovation, which makes strong tailwinds for Palantir. The $706 billion budgeted for fiscal 2022 remains relatively flat from the fiscal 2021 budget, and even reflects a slight decrease if adjusted for inflation. Coupled with a goal to invest more heavily in new technologies products like AI and hypersonic weapons, it is clear the government is looking to achieve more while spending less. And only the accelerated adoption of innovative software and systems like those provided by Palantir can enable that kind of time- and cost-efficiencies.\nThe Pentagon’s growing acceptance of innovators is further corroborated by their generosity in supporting more than 1,600 software-as-a-service start-ups last year with $1.5 billion in direct funding. A number of defense contracts valued at up to $3 million each have also been set aside for early-stage companies within the sector, indicating the agency’s active efforts in breaking the high barriers of entry that the giant defense contractors have historically built. This signals that a greater market of opportunities from the U.S. Department of Defense is coming Palantir’s way, underpinning additional growth in the foreseeable future.\nConclusion\nWith Palantir’s current government revenues representing only 1/10thof a percent of total U.S. annual defense spending, there is still significant headroom for market penetration. And Palantir’s track record in assisting the network modernization efforts across various U.S. military agencies, paired with the Defense Department’s increasing demand for innovation to support their intelligence needs further bolsters the company’s long-term growth outlook. Palantir’s government contract capabilities, which currently leads the company’s revenue growth, is also expected to encourage broader adoption of its software offerings and drive adjacent revenues to its commercial business. We believe Palantir, both the company and the stock, is only starting to scratch the surface of its growth potential, and is slated for significant upside realization going into the next decade.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690792393,"gmtCreate":1639706845910,"gmtModify":1639708183644,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"So when can start bargain hunting?&nbsp;","listText":"So when can start bargain hunting?&nbsp;","text":"So when can start bargain hunting?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690792393","repostId":"2192920942","repostType":4,"isVote":1,"tweetType":1,"viewCount":2561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":851654309,"gmtCreate":1634906964931,"gmtModify":1634907710277,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851654309","repostId":"1130370622","repostType":4,"isVote":1,"tweetType":1,"viewCount":3816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821757770,"gmtCreate":1633797452338,"gmtModify":1633834486238,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Waiting for the crash","listText":"Waiting for the crash","text":"Waiting for the crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821757770","repostId":"1190298937","repostType":4,"repost":{"id":"1190298937","kind":"news","pubTimestamp":1633787347,"share":"https://www.laohu8.com/m/news/1190298937?lang=zh_CN&edition=full","pubTime":"2021-10-09 21:49","market":"us","language":"en","title":"Morgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190298937","media":"finance.yahoo","summary":"Slowing growth and tightening financial conditions.\nThat makes Mike Wilson, Morgan Stanley’s chief i","content":"<p>Slowing growth and tightening financial conditions.</p><p><blockquote>增长放缓和金融状况收紧。</blockquote></p><p> That makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.</p><p><blockquote>这让摩根士丹利首席投资官迈克·威尔逊感到紧张。</blockquote></p><p> “In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"</p><p><blockquote>“简而言之，更高的实际利率应该意味着更低的股价，”威尔逊上周在给客户的一份报告中写道。“其次，它们也可能意味着价值超过增长，即使整体股市走低。”</blockquote></p><p> Wilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.</p><p><blockquote>Wilson在最近的一次采访中还表示，由于盈利预期过高，该公司10%-20%调整的看涨期权将由科技股引领。</blockquote></p><p> Within that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.</p><p><blockquote>在此背景下，威尔逊建议投资者青睐医疗保健、必需消费品和金融等防御性板块。</blockquote></p><p> Let's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.</p><p><blockquote>让我们快速浏览一下这些领域的一些可能的游戏——其中一个可能值得用你的零钱购买。</blockquote></p><p> 1. Financials: Bank of America (BAC)</p><p><blockquote>1.金融：美国银行（BAC）</blockquote></p><p> Over the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.</p><p><blockquote>在过去十年中，美国银行精简和完善了其业务实践和运营，从美国评级最低的银行之一跃升为资产第二大银行（总资产约2.3万亿美元）。摩根大通拥有3万亿美元的资产，是最大的。</blockquote></p><p> As the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.</p><p><blockquote>随着经济继续从疫情中复苏，通胀继续飙升，利率可能会上升，这使该银行处于继续取得成功的有利位置。银行通过更大的“利差”（他们支付给客户的利息与他们通过投资赚取的利息之间的差额）从更高的利率中受益。</blockquote></p><p> And despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.</p><p><blockquote>尽管上个季度没有完全达到盈利水平，但美国银行还是向股东提高了股息，将其收益率从每股18美分提高到21美分，增加了17%。目前，该股的股息率为1.9%。</blockquote></p><p> 2. Consumer Staples: PepsiCo (PEP)</p><p><blockquote>2.必需消费品：百事可乐（PEP）</blockquote></p><p> Pepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.</p><p><blockquote>百事可乐不仅仅是一个主要的可乐和苏打水品牌。大多数消费者都会意识到激浪和佳得乐属于百事可乐旗下。</blockquote></p><p> But this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.</p><p><blockquote>但这家食品和饮料巨头还在全球拥有菲多利、桂格食品、纯果乐、SodaStream和数十个其他品牌。</blockquote></p><p> With everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.</p><p><blockquote>由于每个人都花这么多时间在家，疫情期间零食消费量大幅上升——这对百事可乐来说是个好消息。7月份，该公司报告净销售额同比增长超过20%，达到192.2亿美元，远高于180亿美元的预期。</blockquote></p><p> And the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.</p><p><blockquote>该公司正在通过健康的股息将一些甜的（或咸的，取决于你的口味）美元传递给股东，这些年来股息一直在稳步增加。过去十年，百事可乐的股息复合增长率为7.7%，而其主要竞争对手可口可乐的股息复合增长率为6.1%。</blockquote></p><p> Pepsico shares offer a dividend yield of 2.8%.</p><p><blockquote>百事公司股票的股息率为2.8%。</blockquote></p><p> 3. Health care: Johnson &amp; Johnson (JNJ)</p><p><blockquote>3.医疗保健：强生（JNJ）</blockquote></p><p> Between its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson &amp; Johnson has become a household name.</p><p><blockquote>强生公司的医疗器械、药品和消费品业务已成为家喻户晓的品牌。</blockquote></p><p> And more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean &amp; Clear could stand on their own as successful brands.</p><p><blockquote>更重要的是，其众多子公司，包括Band-Aid、Tylenol、Neutrogena、Listerine和Clean&amp;Clear都可以独立成为成功的品牌。</blockquote></p><p> JNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.</p><p><blockquote>强生在医疗保健领域的多元化持股确保其能够度过任何经济衰退。JNJ旗下的Janssen Pharamceutica部门拥有一些行业领先的免疫学和癌症治疗药物，因此JNJ拥有大量的增长机会。</blockquote></p><p> The company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.</p><p><blockquote>该公司第二季度的业绩受到全年COVID-19注射收入125.9亿美元的提振，仅第二季度全球销售额就达到1.64亿美元。</blockquote></p><p> JNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.</p><p><blockquote>强生通过第三季度1.06美元的股息与股东分享了其成功，高于六个月前的1.01美元。</blockquote></p><p> The stock currently has a dividend yield of 2.7%.</p><p><blockquote>该股目前的股息率为2.7%。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley is still calling for a 10%-20% crash — protect yourself this way<blockquote>摩根士丹利仍在呼吁10%-20%的崩盘——这样保护自己</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">finance.yahoo</strong><span class=\"h-time small\">2021-10-09 21:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Slowing growth and tightening financial conditions.</p><p><blockquote>增长放缓和金融状况收紧。</blockquote></p><p> That makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.</p><p><blockquote>这让摩根士丹利首席投资官迈克·威尔逊感到紧张。</blockquote></p><p> “In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"</p><p><blockquote>“简而言之，更高的实际利率应该意味着更低的股价，”威尔逊上周在给客户的一份报告中写道。“其次，它们也可能意味着价值超过增长，即使整体股市走低。”</blockquote></p><p> Wilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.</p><p><blockquote>Wilson在最近的一次采访中还表示，由于盈利预期过高，该公司10%-20%调整的看涨期权将由科技股引领。</blockquote></p><p> Within that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.</p><p><blockquote>在此背景下，威尔逊建议投资者青睐医疗保健、必需消费品和金融等防御性板块。</blockquote></p><p> Let's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.</p><p><blockquote>让我们快速浏览一下这些领域的一些可能的游戏——其中一个可能值得用你的零钱购买。</blockquote></p><p> 1. Financials: Bank of America (BAC)</p><p><blockquote>1.金融：美国银行（BAC）</blockquote></p><p> Over the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.</p><p><blockquote>在过去十年中，美国银行精简和完善了其业务实践和运营，从美国评级最低的银行之一跃升为资产第二大银行（总资产约2.3万亿美元）。摩根大通拥有3万亿美元的资产，是最大的。</blockquote></p><p> As the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.</p><p><blockquote>随着经济继续从疫情中复苏，通胀继续飙升，利率可能会上升，这使该银行处于继续取得成功的有利位置。银行通过更大的“利差”（他们支付给客户的利息与他们通过投资赚取的利息之间的差额）从更高的利率中受益。</blockquote></p><p> And despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.</p><p><blockquote>尽管上个季度没有完全达到盈利水平，但美国银行还是向股东提高了股息，将其收益率从每股18美分提高到21美分，增加了17%。目前，该股的股息率为1.9%。</blockquote></p><p> 2. Consumer Staples: PepsiCo (PEP)</p><p><blockquote>2.必需消费品：百事可乐（PEP）</blockquote></p><p> Pepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.</p><p><blockquote>百事可乐不仅仅是一个主要的可乐和苏打水品牌。大多数消费者都会意识到激浪和佳得乐属于百事可乐旗下。</blockquote></p><p> But this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.</p><p><blockquote>但这家食品和饮料巨头还在全球拥有菲多利、桂格食品、纯果乐、SodaStream和数十个其他品牌。</blockquote></p><p> With everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.</p><p><blockquote>由于每个人都花这么多时间在家，疫情期间零食消费量大幅上升——这对百事可乐来说是个好消息。7月份，该公司报告净销售额同比增长超过20%，达到192.2亿美元，远高于180亿美元的预期。</blockquote></p><p> And the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.</p><p><blockquote>该公司正在通过健康的股息将一些甜的（或咸的，取决于你的口味）美元传递给股东，这些年来股息一直在稳步增加。过去十年，百事可乐的股息复合增长率为7.7%，而其主要竞争对手可口可乐的股息复合增长率为6.1%。</blockquote></p><p> Pepsico shares offer a dividend yield of 2.8%.</p><p><blockquote>百事公司股票的股息率为2.8%。</blockquote></p><p> 3. Health care: Johnson &amp; Johnson (JNJ)</p><p><blockquote>3.医疗保健：强生（JNJ）</blockquote></p><p> Between its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson &amp; Johnson has become a household name.</p><p><blockquote>强生公司的医疗器械、药品和消费品业务已成为家喻户晓的品牌。</blockquote></p><p> And more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean &amp; Clear could stand on their own as successful brands.</p><p><blockquote>更重要的是，其众多子公司，包括Band-Aid、Tylenol、Neutrogena、Listerine和Clean&amp;Clear都可以独立成为成功的品牌。</blockquote></p><p> JNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.</p><p><blockquote>强生在医疗保健领域的多元化持股确保其能够度过任何经济衰退。JNJ旗下的Janssen Pharamceutica部门拥有一些行业领先的免疫学和癌症治疗药物，因此JNJ拥有大量的增长机会。</blockquote></p><p> The company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.</p><p><blockquote>该公司第二季度的业绩受到全年COVID-19注射收入125.9亿美元的提振，仅第二季度全球销售额就达到1.64亿美元。</blockquote></p><p> JNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.</p><p><blockquote>强生通过第三季度1.06美元的股息与股东分享了其成功，高于六个月前的1.01美元。</blockquote></p><p> The stock currently has a dividend yield of 2.7%.</p><p><blockquote>该股目前的股息率为2.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/morgan-stanley-still-calling-10-120000250.html\">finance.yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JNJ":"强生","BAC":"美国银行","PEP":"百事可乐"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-still-calling-10-120000250.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190298937","content_text":"Slowing growth and tightening financial conditions.\nThat makes Mike Wilson, Morgan Stanley’s chief investment officer, nervous.\n“In short, higher real rates should mean lower equity prices,\" Wilson wrote last week in a note to clients. \"Secondarily, they may also mean value over growth even as the overall equity market goes lower.\"\nWilson also said in a recent interview that the firm's call for a 10%-20% correction would be led by tech stocks as earnings estimates are too high.\nWithin that context, Wilson advised investors to favor defensive sectors such as healthcare, consumer staples, and financials.\nLet's take a quick look at a few possible plays from those areas — one of them could be worth buying withyour spare change.\n1. Financials: Bank of America (BAC)\nOver the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets (roughly $2.3 trillion in total assets). With assets of $3 trillion, JPMorgan Chase is the biggest.\nAs the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.\nAnd despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.9%.\n2. Consumer Staples: PepsiCo (PEP)\nPepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.\nBut this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.\nWith everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.\nAnd the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7% versus 6.1% from its main rival Coca-Cola.\nPepsico shares offer a dividend yield of 2.8%.\n3. Health care: Johnson & Johnson (JNJ)\nBetween its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson & Johnson has become a household name.\nAnd more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean & Clear could stand on their own as successful brands.\nJNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.\nThe company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.\nJNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.\nThe stock currently has a dividend yield of 2.7%.","news_type":1,"symbols_score_info":{"PEP":0.9,"BAC":0.9,"JNJ":0.9}},"isVote":1,"tweetType":1,"viewCount":1172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823302744,"gmtCreate":1633578109458,"gmtModify":1633584394399,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Execution is key","listText":"Execution is key","text":"Execution is key","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823302744","repostId":"1146744889","repostType":4,"repost":{"id":"1146744889","kind":"news","pubTimestamp":1633577132,"share":"https://www.laohu8.com/m/news/1146744889?lang=zh_CN&edition=full","pubTime":"2021-10-07 11:25","market":"us","language":"en","title":"Intel Vs. AMD: Competitive Prospects<blockquote>英特尔与AMD：竞争前景</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146744889","media":"Seeking Alpha","summary":"Summary\n\nThis is a (very) long look into the competitive positioning between Intel and AMD, on the C","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>This is a (very) long look into the competitive positioning between Intel and AMD, on the CPU/SoC side, over the next 2+ years.</li>  <li>It covers the desktop, laptop and server segments.</li>  <li>There are changes happening, and more will be coming, to this competitive positioning.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad7be89aa0540e7ed8c51debe3aa0392\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Vedat OGUZCAN/iStock via Getty Images</span></p><p><blockquote><ul><li>这是对英特尔和AMD在未来两年多的CPU/SoC方面竞争定位的（非常）长时间的展望。</li><li>它涵盖了台式机、笔记本电脑和服务器领域。</li><li>这种竞争定位正在发生变化，而且还会有更多变化。</li></ul><p class=\"t-img-caption\"><span>Vedat OGUZCAN/iStock来自Getty Images</span></p></blockquote></p><p> This article will cover the present, and near-term (up to more than two years out), competitive prospects between Advanced Micro Devices(NASDAQ:AMD)and Intel(NASDAQ:INTC)on the CPU market. Namely, on its three main segments: desktop, laptop and server.</p><p><blockquote>本文将介绍Advanced Micro Devices（纳斯达克：AMD）和英特尔（纳斯达克：INTC）在CPU市场上的竞争前景。即其三个主要细分市场：台式机、笔记本电脑和服务器。</blockquote></p><p> The article was built through the careful aggregation of information from dozens of sources, taking into account the most credible reports backed by the most recent benchmarks and statements from Intel and AMD.</p><p><blockquote>这篇文章是通过仔细汇总来自数十个来源的信息而构建的，同时考虑了由英特尔和AMD的最新基准测试和声明支持的最可信的报告。</blockquote></p><p> <b>The Context</b></p><p><blockquote><b>上下文</b></blockquote></p><p> AMD has sprang a surprise. Since the first Zen 3-based chips reached the market, AMD has built up a significant advantage over Intel. This happened in the:</p><p><blockquote>AMD带来了惊喜。自从第一批基于Zen 3的芯片进入市场以来，AMD已经建立了相对于英特尔的显著优势。这发生在：</blockquote></p><p> <ul>  <li>Desktop segment, where Zen 3 chips got to achieve equivalent single-threaded performance, while besting Intel on multithreaded performance due to much higher core counts.</li>  <li>Laptop segment, though to a lesser extent, mostly on the strength of its multithreaded performance as well.</li>  <li>Server, with its EPYC CPUs, on account of very competitive multithreaded abilities as a result of much higher core counts, as well as better performance / energy consumption metrics. Moreover, since Intel had been unchallenged in the server space for so long, AMD found it easy to price its CPUs at much better price / performance and TCO (Total Cost of Ownership) / performance ratios.</li> </ul> AMD achieved this incredible feat through three developments:</p><p><blockquote><ul><li>台式机领域，Zen 3芯片实现了同等的单线程性能，同时由于内核数量高得多，在多线程性能上优于英特尔。</li><li>笔记本电脑细分市场，虽然程度较小，但主要是因为其多线程性能。</li><li>服务器，其EPYC CPU，由于更高的内核数量以及更好的性能/能耗指标，具有极具竞争力的多线程能力。此外，由于英特尔在服务器领域长期以来一直没有受到挑战，AMD发现很容易以更好的性价比和TCO（总拥有成本）/性能比为其CPU定价。</li></ul>AMD通过三项发展实现了这一令人难以置信的壮举：</blockquote></p><p> <ul>  <li>It finally built a competitive CPU architecture, enabling it to level the field in terms of IPC (Instructions Per Cycle).</li>  <li>It got access to a process advantage due to using an external supplier, TSMC(NYSE:TSM). TSMC surpassed Intel's process abilities, and with Intel fabricating its chips internally, this created a semi-permanent disadvantage for Intel CPUs. This happened on account of many Intel missteps and delays advancing its process technology.</li>  <li>And AMD's bet on a MCM (Multi-Chip Module) architecture, which enabled it to divide a monolithic CPU die (which is expensive to manufacture due to manufacturing yields being lower for larger dies) into many small, less expensive dies. This brought down the cost of the chip and allowed AMD to sell chips with many more cores than Intel's at similar price points.</li> </ul> Intel took a long time to respond to AMD’s challenge, giving AMD the possibility of catching and surpassing Intel.</p><p><blockquote><ul><li>它最终建立了一个有竞争力的CPU架构，使其能够在IPC（每周期指令数）方面与该领域持平。</li><li>由于使用外部供应商台积电（纽约证券交易所股票代码：TSM），它获得了工艺优势。台积电超越了英特尔的工艺能力，由于英特尔在内部制造芯片，这给英特尔CPU造成了半永久性的劣势。这是由于英特尔在推进其工艺技术方面的许多失误和延迟造成的。</li><li>AMD押注于MCM（多芯片模块）架构，这使其能够将单片CPU芯片（由于较大芯片的制造良率较低，因此制造成本较高）分成许多较小、较便宜的芯片。这降低了芯片的成本，使AMD能够以类似的价格销售比英特尔多得多的芯片。</li></ul>英特尔花了很长时间才应对AMD的挑战，让AMD有了追赶和超越英特尔的可能。</blockquote></p><p> Things move slowly when it comes to designing chips or evolving chipmaking processes, so the initial reaction would always have to be slow. In the meantime, AMD has been slowly but surely eroding Intel’s market position, including on the very profitable server market. Any increase in AMD competitivity would lead to this, since Intel started from very high market shares on account of AMD’s prior near-absolute lack of competitiveness.</p><p><blockquote>在设计芯片或发展芯片制造工艺方面，事情进展缓慢，因此最初的反应总是很慢。与此同时，AMD一直在缓慢但肯定地侵蚀英特尔的市场地位，包括在利润丰厚的服务器市场。AMD竞争力的任何增强都会导致这种情况，因为由于AMD之前几乎绝对缺乏竞争力，英特尔从非常高的市场份额开始。</blockquote></p><p> This is the starting point for my analysis today. At this point in time, AMD has been beating Intel like a redheaded stepchild across the market (by gaining market share), though slower on servers and laptops.</p><p><blockquote>这是我今天分析的出发点。目前，AMD已经像红发继子一样在整个市场上击败了英特尔（通过获得市场份额），尽管在服务器和笔记本电脑上速度较慢。</blockquote></p><p> Servers are a conservative market and move slower, while on laptops Intel’s 11thgeneration chips still managed to keep AMD somewhat at bay due to a large GPU performance gain while keeping decent performance on the CPU side.</p><p><blockquote>服务器是一个保守的市场，发展较慢，而在笔记本电脑上，英特尔的第11代芯片仍然设法在一定程度上阻止了AMD，因为GPU性能大幅提升，同时在CPU方面保持了不错的性能。</blockquote></p><p> Anyway, let’s check how things are set to evolve over the next 2-3 years.</p><p><blockquote>无论如何，让我们来看看未来2-3年事情将如何发展。</blockquote></p><p> <b>DesktopPresent</b></p><p><blockquote><b>桌面呈现</b></blockquote></p><p> In terms of desktop CPUs, currently the battle is fought between Intel’s 11thgeneration and AMD’s Ryzen 5000 series. Intel has a small lead in single threaded performance, but AMD has a very large lead on multitasking performance, due to AMD fielding CPUs with a higher core number. For instance, at the top of the range, AMD’s Ryzen 5950x has 16 cores 32 threads) to Intel’s 11900K 8 (16 threads).</p><p><blockquote>在桌面CPU方面，目前这场战斗在英特尔的第11代和AMD的锐龙5000系列之间进行。英特尔在单线程性能方面有很小的领先优势，但AMD在多任务性能方面有很大的领先优势，这是因为AMD部署了更高核心数的CPU。例如，在该系列的顶部，AMD的锐龙5950x有16个内核32个线程）到英特尔的11900K 8（16个线程）。</blockquote></p><p> Intel’s single threaded performance cannot compensate for the smaller number of cores, so presently AMD’s desktop offerings are more competitive.</p><p><blockquote>英特尔的单线程性能无法弥补内核数量的减少，因此目前AMD的台式机产品更具竞争力。</blockquote></p><p> <b>Next Month</b></p><p><blockquote><b>下个月</b></blockquote></p><p> The first shot on the renewed Intel/AMD war will be fired by Intel next month. That’s when Intel’s 12thgeneration, Alder Lake, will launch. This generation has one particularity: it will be the first time the x86 world will see the arrival of a big.little architecture.</p><p><blockquote>英特尔/AMD战争的第一枪将于下个月由英特尔打响。届时，英特尔的第12代Alder Lake将推出。这一代有一个特殊性：这将是x86世界第一次看到big.little架构的到来。</blockquote></p><p></p><p> In the case of Alder Lake, Intel will provide CPUs with up to 8 performance cores and another 8 efficiency cores. The performance cores have hyperthreading (two threads per core), the efficiency cores do not, hence, this 16-core CPU can run 24 threads, versus 32 on a top-of-the-line Ryzen. The top of the Intel Alder Lake line will be the i9-12900K CPU.</p><p><blockquote>在Alder Lake的案例中，英特尔将为CPU提供多达8个性能核心和另外8个效率核心。性能核心具有超线程（每个核心两个线程），效率核心没有，因此，这款16核CPU可以运行24个线程，而顶级锐龙只有32个线程。英特尔Alder Lake系列的顶级产品将是i9-12900K CPU。</blockquote></p><p> This chip will represent a huge step for Intel. From early tests, the 12900K is showing up to 2x higher performance in multitasking, when compared to the 11900K.</p><p><blockquote>这款芯片将代表英特尔向前迈出一大步。从早期测试来看，与11900K相比，12900K在多任务处理方面的性能提高了2倍。</blockquote></p><p> The jump in multitasking performance comes from two sources:</p><p><blockquote>多任务处理性能的跃升来自两个方面：</blockquote></p><p> <ul>  <li>The small efficiency cores are actually quite performant. They perform&nbsp;above the level of an SkyLake core&nbsp;(thus, at slightly less than 1/2 the performance on the new Performance cores), but do so while demanding significantly less power. Hence, although they are efficiency cores, they can still provide significant computing capacity which impacts the overall multitasking ability of the chip. Roughly, about 33% of the chip’s multitasking power can come from these cores.</li>  <li>Alder Lake also represents a large IPC jump, due to it using entirely new and much wider Performance core. This IPC gain is on the order of 19-20%, and a larger overall gain still might come from higher frequencies on top.</li> </ul> <b>Efficiency Cores</b></p><p><blockquote><ul><li>小效率核心实际上相当高性能。它们的性能高于SkyLake内核的水平（因此，略低于新性能内核的1/2），但同时需要的功率要低得多。因此，尽管它们是效率核心，但它们仍然可以提供显著的计算能力，这影响了芯片的整体多任务处理能力。大约33%的芯片多任务处理能力可以来自这些内核。</li><li>Alder Lake也代表了IPC的巨大飞跃，因为它使用了全新的和更广泛的性能核心。该IPC增益约为19-20%，并且更大的总体增益仍然可能来自顶部更高的频率。</li></ul><b>效率核心</b></blockquote></p><p> One of the big surprises with Intel’s Alder Lake generation, is the performance the E-Cores (Efficiency Cores, Gracemont) are said to attain. These cores, schematically, seem to occupy 1/4ththe area taken by the new Golden Cove P-Cores (Performance Cores). Yet, in Intel’s&nbsp;Architecture Day 2021 presentation, these cores are able to attain levels of performance over those hit by SkyLake cores.</p><p><blockquote>英特尔Alder Lake一代的一大惊喜是E核（效率核，Gracemont）据说可以达到的性能。示意性地说，这些核心似乎占据了新Golden Cove P核心（性能核心）所占面积的1/4。然而，在英特尔2021年架构日的演示中，这些内核能够达到超过SkyLake内核的性能水平。</blockquote></p><p> Notice the relative sizes:</p><p><blockquote>请注意相对大小：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/404ab04fb76822e023833b08316cccec\" tg-width=\"640\" tg-height=\"352\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/97305d665518f38620f00eedc89841f7\" tg-width=\"640\" tg-height=\"357\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> And notice the power/performance charts vs SkyLake</p><p><blockquote>并注意与SkyLake相比的功率/性能图表</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4e65c15620b40f9cb4e5282a096bc8b4\" tg-width=\"640\" tg-height=\"348\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The 80% performance jump doesn’t mean the core is 80% faster on single-threaded jobs. This is a multithreaded comparison, with four single-threaded efficiency cores vs twohyperthreadedSkyLake cores. For single-threaded performance:</p><p><blockquote>80%的性能跃升并不意味着内核在单线程作业上的速度提高了80%。这是一个多线程比较，四个单线程效率核心与两个HyperthreadedSkylake核心。对于单线程性能：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/714ffd1802677273d9b059fd270334c6\" tg-width=\"640\" tg-height=\"342\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Performance Cores</b></p><p><blockquote><b>性能核心</b></blockquote></p><p> At the same time, Intel’s big cores have made a large jump in performance. This jump is cumulative with what happened with Rocket Lake, and thus it has been enough to propel Intel well ahead of AMD’s current offerings when it comes to single threaded performance (~25%+).</p><p><blockquote>与此同时，英特尔的大核在性能上有了较大的跃升。这种跳跃与Rocket Lake的情况是累积的，因此在单线程性能方面，它足以推动英特尔远远领先于AMD当前的产品（约25%+）。</blockquote></p><p> The performance jump on the Performance cores, together with actually performant efficiency cores, also means that Alder Lake is able to match AMD's multithreaded performance even though it can only process 24 threads (16 threads on the 8 Performance cores, 8 threads on efficiency cores) vs AMD's 32 (on high-end chips).</p><p><blockquote>性能内核上的性能跃升，以及实际上高性能的效率内核，也意味着Alder Lake能够匹配AMD的多线程性能，即使它只能处理24个线程（8个性能内核上的16个线程，效率内核上的8个线程），而AMD的32个线程（在高端芯片上）。</blockquote></p><p> This performance jump by Intel arguably will put Intel at an advantage in the desktop market next month, as soon as Alder Lake launches.</p><p><blockquote>一旦Alder Lake推出，英特尔的这一性能跃升可以说将使英特尔在下个月的台式机市场占据优势。</blockquote></p><p> <b>Q1 2022</b></p><p><blockquote><b>2022年第一季度</b></blockquote></p><p> In Q1 2022, AMD’s 6000 series (Warhol) arrives. It will still be based on the Zen 3 architecture, and promises small (up to 5%) IPC gains, plus gains in other areas including frequency, aggregating to a~9% performance gain.</p><p><blockquote>2022年第一季度，AMD 6000系列（沃霍尔）上市。它仍将基于Zen 3架构，并承诺小幅（高达5%）IPC增益，加上包括频率在内的其他领域的增益，总计约9%的性能增益。</blockquote></p><p> This will clearly fall short of what Alder Lake is showing now, though it can create a small advantage on multithreaded uses. The desktop core count will remain at 16 cores, hence there’s no large leapfrogging of Intel’s effort.</p><p><blockquote>这显然达不到Alder Lake现在所展示的，尽管它可以在多线程使用上创造一点优势。台式机核心数量将保持在16个核心，因此英特尔的努力不会有大的飞跃。</blockquote></p><p> As a result, even with the AMD 6000 series shipping, Intel will likely retain the desktop performance crown.</p><p><blockquote>因此，即使AMD 6000系列出货，英特尔也可能会保住台式机性能桂冠。</blockquote></p><p> <b>Q3 2022</b></p><p><blockquote><b>2022年第三季度</b></blockquote></p><p> Come Q3 2022, Intel will likely release its 13thgeneration CPU family, Raptor Lake. This will be a refresh of Alder Lake, with minor IPC and memory improvements. The IPC and performance gains on this generation will likely mirror those attained by AMD on its AMD 6000 series.</p><p><blockquote>到2022年第三季度，英特尔可能会发布其第13代CPU系列Raptor Lake。这将是Alder Lake的更新，略有IPC和内存改进。这一代产品的IPC和性能提升可能会反映AMD在其AMD 6000系列上获得的提升。</blockquote></p><p> However, Intel will add another 8 efficiency cores to Raptor Lake on its high-end chip, upping the core count to 24 and the thread count to 32. What this means is:</p><p><blockquote>然而，英特尔将在其高端芯片上为Raptor Lake再增加8个效率核心，将核心数量增加到24个，线程数量增加到32个。这意味着：</blockquote></p><p> <ul>  <li>Given the estimated contribution by the efficiency cores to Alder Lake’s multithreaded performance (~33%) and 8 additional efficiency cores (doubles their count), these additional cores can thus add a further 33% multithreaded improvement;</li>  <li>And there will also be some single-threaded performance improvements.</li> </ul> This seems enough to put the 13900K CPU ahead of the high-end Ryzen 6000 CPU even on multithreaded scenarios. Thus, Raptor Lake will solidify Intel’s position at the top of the desktop market.</p><p><blockquote><ul><li>考虑到效率核心对Alder Lake多线程性能的估计贡献（~33%）和8个额外的效率核心（数量翻倍），这些额外的核心因此可以进一步增加33%的多线程改进；</li><li>并且也会有一些单线程性能的提升。</li></ul>即使在多线程场景下，这似乎也足以让13900K CPU领先于高端锐龙6000 CPU。因此，Raptor Lake将巩固英特尔在台式机市场的领先地位。</blockquote></p><p></p><p> <b>Q4 2022</b></p><p><blockquote><b>2022年第四季度</b></blockquote></p><p> AMD is set to launch the Zen 4-based Ryzen 7000 series (Raphael) at this time, likely close to year-end.</p><p><blockquote>AMD将在这个时候推出基于Zen 4的锐龙7000系列（拉斐尔），可能是在接近年底的时候。</blockquote></p><p> It’s hard to estimate how large the performance uplift will be, though it seems&nbsp;up to 29% IPC&nbsp;and 40%-45% overall performance gains over the current generation (Zen 3) might be attainable. The core count for Desktop chips will remain at 16 cores (32 threads). Zen 4 will be built on a new TSMC process node.</p><p><blockquote>很难估计性能提升会有多大，尽管与当前一代（Zen 3）相比，似乎可以实现高达29%的IPC和40%-45%的整体性能提升。台式机芯片的核心数量将保持在16个核心（32个线程）。Zen 4将建立在新的台积电工艺节点上。</blockquote></p><p> These are very significant gains. If they’re realized, they are probably enough to put Zen 4 slightly ahead of Intel’s Raptor Lake, or match it.</p><p><blockquote>这些都是非常重大的收获。如果它们被实现，它们可能足以让Zen 4略微领先于英特尔的Raptor Lake，或者与之匹敌。</blockquote></p><p> In my view, even if an advantage is gained, it will likely be small (given the large jump achieved by Alder Lake, and then reinforced by Raptor Lake). Hence, at this point – Q4 2022 -- things will be too close to call on the Desktop market.</p><p><blockquote>在我看来，即使获得了优势，也可能很小（考虑到Alder Lake实现的大幅跃升，然后由Raptor Lake加强）。因此，在这一点上——2022年第四季度——台式机市场的情况将与看涨期权过于接近。</blockquote></p><p> <b>Q2 2023</b></p><p><blockquote><b>2023年第二季度</b></blockquote></p><p> Intel will launch Meteor Lake. This is an entirely new architecture on a new process node (Intel 4). Although there are no performance numbers at this point, a new architecture together with a new process node is bound to produce a large IPC gain. On top of this, Meteor Lake will also be a truly MCM design, allowing Intel to more easily ramp up the core count, which will favor multithreaded performance.</p><p><blockquote>英特尔将推出流星湖。这是新进程节点（英特尔4）上的全新架构。虽然目前还没有性能数据，但新的架构和新的工艺节点必然会产生很大的IPC增益。除此之外，Meteor Lake也将是一个真正的MCM设计，允许英特尔更容易地增加核心数量，这将有利于多线程性能。</blockquote></p><p> Hence, when Meteor Lake is launched, Intel is highly likely to put itself firmly ahead of Zen 4 CPUs in the desktop market. AMD’s answer will only come much later, in the form of Zen 5. At this point, it’s possible that Intel will have gained, and will keep, the performance leadership for a longer time.</p><p><blockquote>因此，当Meteor Lake推出时，英特尔很有可能在台式机市场牢牢领先于Zen 4 CPU。AMD的答案只会在很久以后以Zen 5的形式出现。在这一点上，英特尔可能已经获得并将在更长的时间内保持性能领先地位。</blockquote></p><p> <b>LaptopPresent</b></p><p><blockquote><b>笔记本电脑存在</b></blockquote></p><p> Currently, the laptop battle is fought between Intel’s Tiger Lake-H and -U families and AMD’s Ryzen 5000 H and U series.</p><p><blockquote>目前，笔记本电脑之战在英特尔的Tiger Lake-H和-U系列与AMD的Ryzen 5000 H和U系列之间展开。</blockquote></p><p> Intel and AMD are well matched in the H segment, with single-threaded and multithreaded performance broadly similar between the two.</p><p><blockquote>英特尔和AMD在H细分市场非常匹配，两者的单线程和多线程性能大致相似。</blockquote></p><p> On the U segment, Intel provides a lower core count at the top (4 vs 8), which gives AMD a performance lead on multithreaded tasks. However, Intel then has a large lead on single-threaded performance, as well as a large lead on GPU performance.</p><p><blockquote>在U段，英特尔在顶部提供了较低的核心数量（4对8），这使得AMD在多线程任务上具有性能领先优势。然而，英特尔在单线程性能方面大幅领先，在GPU性能方面也大幅领先。</blockquote></p><p> Given the above, I’ve considered that it’s too close to call this segment right now.</p><p><blockquote>鉴于上述情况，我认为目前这一细分市场离看涨期权太近了。</blockquote></p><p> <b>Q1 2022</b></p><p><blockquote><b>2022年第一季度</b></blockquote></p><p> During Q1 2023, Intel will launch new CPUs for the laptop market (H and U families) based on its very performant Alder Lake generation (as we saw from the desktop segment).</p><p><blockquote>2023年第一季度，英特尔将为笔记本电脑市场（H和U系列）推出基于其高性能Alder Lake一代的新CPU（正如我们在台式机领域看到的那样）。</blockquote></p><p> These CPUs will go up to 6+8 cores (14 cores, 20 threads, H family) and 2+8 cores (10 cores, 12 threads, U family), which will represent a large increase in core and thread counts from the present Tiger Lake generation (H goes from 8 to 14 cores, 16 to 20 threads; U goes from 4 to 10 cores, 8 to 12 threads). Simultaneously, the Performance cores will have a 20% IPC uplift (and likely a larger overall performance gain).</p><p><blockquote>这些CPU将达到6+8核（14核，20线程，H系列）和2+8核（10核，12线程，U系列），这将代表当前Tiger Lake一代的核心和线程数量大幅增加（H从8核增加到14核，16线程增加到20线程；U从4核增加到10核，8线程增加到12线程）。同时，性能核心将有20%的IPC提升（并且可能有更大的整体性能增益）。</blockquote></p><p> Hence, compute performance will be substantially increased, putting it well ahead of the existing AMD Ryzen 5000 series. However, the maximum EU (Execution Unit) count on the Alder Lake mobile CPUs remains capped at 96 EUs. Moreover, it seems these EUs will be based on the same GPU generation as the existing Tiger Lake GPUs. Hence, GPU performance will likely not increase a lot.</p><p><blockquote>因此，计算性能将大幅提高，远远领先于现有的AMD锐龙5000系列。但是，Alder Lake移动CPU上的最大EU（执行单元）计数仍然限制在96个EU。此外，这些EU似乎将基于与现有Tiger Lake GPU相同的GPU一代。因此，GPU性能可能不会提高很多。</blockquote></p><p> At about the same time, AMD will launch Ryzen 6000 APUs (Rembrandt), which will somewhat improve overall performance (~9%). But most importantly, AMD will mate these APUs with an entirely new GPU generation based on its RDNA 2 technology. This change will bring extreme GPU performance increases because the prior APUs were still based on AMD’s outdated and outclassed Vega technology. The performance increases will likely exceed 100%, and will put AMD’s mobile offerings well ahead of Intel’s when it comes to GPU performance.</p><p><blockquote>大约在同一时间，AMD将推出锐龙6000 APUs（伦勃朗），这将在一定程度上提高整体性能（~9%）。但最重要的是，AMD将这些APU与基于其RDNA 2技术的全新一代GPU配对。这一变化将带来极大的GPU性能提升，因为之前的APU仍然基于AMD过时和超越的Vega技术。性能提升可能会超过100%，并将使AMD的移动产品在GPU性能方面远远领先于英特尔。</blockquote></p><p> Hence, as of Q1 2022 Intel will likely get the mobile CPU performance crown, but AMD will take away the integrated mobile GPU performance crown from Intel. As a result, I think the battle between these two products will be too close to call and will depend on each customer’s priorities.</p><p><blockquote>因此，截至2022年Q1，英特尔可能会获得移动CPU性能桂冠，但AMD将从英特尔手中夺走集成移动GPU性能桂冠。因此，我认为这两种产品之间的战斗将与看涨期权过于接近，并将取决于每个客户的优先事项。</blockquote></p><p> <b>Q3 2022</b></p><p><blockquote><b>2022年第三季度</b></blockquote></p><p> Intel’s mobile range will be refreshed with the launch of its 13thgeneration Raptor Lake CPUs. These will bring small CPU performance gains, which will build on the gains it attained with Alder Lake.</p><p><blockquote>随着第13代Raptor Lake CPU的推出，英特尔的移动产品系列将得到更新。这些将带来小幅的CPU性能提升，这将建立在Alder Lake获得的提升基础上。</blockquote></p><p> However, the big news with the mobile Raptor Lake CPUs is that they’ll switch the GPU technology, going from Intel LP GPUs to Intel HPG GPUs. Moreover, the maximum number of EUs will be increased from 96 to 192 (doubled).</p><p><blockquote>然而，移动Raptor Lake CPU的大新闻是，他们将切换GPU技术，从英特尔LP GPU转向英特尔HPG GPU。此外，欧盟的最大数量将从96个增加到192个（增加一倍）。</blockquote></p><p> This is a significant change. Intel’s HPG EUs are supposed to bring a 50% performance uplift (on the same power budget), and the doubling of the maximum EUs will bring another 100% performance uplift. Conceivably, the maximum GPU performance on Raptor Cove high-end mobile CPUs might increase as much as 200%, though Intel might sacrifice some of the potential improvement for energy saving reasons.</p><p><blockquote>这是一个重大的变化。英特尔的HPG EU应该会带来50%的性能提升（在相同的功耗预算下），最大EU的两倍将会带来另外100%的性能提升。可以想象，Raptor Cove高端移动CPU上的最大GPU性能可能会提高200%，尽管英特尔可能会出于节能原因牺牲一些潜在的改进。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/799bea21a599b46badc1d99a507745ec\" tg-width=\"640\" tg-height=\"351\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> When this is realized, Intel will attain performance superiority both on the CPU and GPU side in its mobile offerings. Hence, Intel will be at a clear advantage on the laptop market from Q3 2022 onwards.</p><p><blockquote>当这一点实现时，英特尔将在其移动产品的CPU和GPU方面获得性能优势。因此，从2022年第三季度起，英特尔将在笔记本电脑市场占据明显优势。</blockquote></p><p> <b>Q1 2023</b></p><p><blockquote><b>2023年第一季度</b></blockquote></p><p> Q1 2023 marks the likely arrival of Zen 4-based laptop CPUs from AMD. These will likely enable AMD to regain the upper hand on CPU multitasking performance, and possibly level things on the single-threaded performance side. It remains to be seen what will happen at the GPU level.</p><p><blockquote>2023年第一季度标志着AMD基于Zen 4的笔记本电脑CPU可能上市。这些可能会使AMD在CPU多任务性能上重新占据上风，并可能在单线程性能方面保持水平。GPU层面会发生什么还有待观察。</blockquote></p><p> In my view, like on the desktop side, AMD will regain the upper hand if the GPU side manages to surpass Intel’s big jump from using its HPG GPUs. Still, for me right now this segment will be too close to call once Zen 4 arrives.</p><p><blockquote>在我看来，就像在桌面端一样，如果GPU端能够超越英特尔使用其HPG GPU的巨大飞跃，AMD将重新占据上风。尽管如此，对我来说，一旦Zen 4到来，这个细分市场将过于接近看涨期权。</blockquote></p><p> <b>Q2 2023</b></p><p><blockquote><b>2023年第二季度</b></blockquote></p><p> In Q2 2023, Intel will likely start shipping its Meteor Lake 14thgeneration mobile CPUs. Meteor Lake is both a new architecture and it will be built on a new process node. Additionally, Meteor Lake will be Intel’s first truly MCM design of the modern era.</p><p><blockquote>2023年第二季度，英特尔可能会开始发货Meteor Lake第14代移动CPU。Meteor Lake既是一个新的架构，又将建立在一个新的流程节点上。此外，Meteor Lake将是英特尔第一个真正的现代MCM设计。</blockquote></p><p> As a result of so many performance-enhancing developments, Meteor Lake is likely to bring significant performance gains (15-20% or more, depending on Intel choices), both on multitasking and single-threaded scenarios. Since Meteor Lake will arrive when things are more or less balanced between Intel and AMD, this will immediately push Intel towards a clear leadership in the laptop segment.</p><p><blockquote>由于如此多的性能增强开发，Meteor Lake可能会在多任务和单线程场景中带来显著的性能提升（15-20%或更多，取决于英特尔的选择）。由于Meteor Lake将在英特尔和AMD之间的情况或多或少平衡时到来，这将立即推动英特尔在笔记本电脑领域取得明显的领先地位。</blockquote></p><p> <b>ServerPresent</b></p><p><blockquote><b>服务器呈现</b></blockquote></p><p> Presently, Intel’s Xeon Scalable 3rdGen tops out at 40 cores, while AMD’s EPYC Milan CPUs go all the way to 64 cores.</p><p><blockquote>目前，英特尔的至强可扩展第三代处理器最高可达40核，而AMD的EPYC米兰CPU最高可达64核。</blockquote></p><p> This large difference in number of cores means the Xeon is not very competitive in tasks involving maximum throughput. Cloud offerings often require high utilization rates, and thus the higher core count gives superiority to AMD and offers it a way to gain market share, which AMD has been taking advantage of.</p><p><blockquote>内核数量的巨大差异意味着至强在涉及最大吞吐量的任务中不太有竞争力。云产品通常需要高利用率，因此更高的核心数量为AMD带来了优势，并为其提供了一种获得市场份额的方式，AMD一直在利用这一点。</blockquote></p><p> <b>Q2 2022</b></p><p><blockquote><b>2022年第二季度</b></blockquote></p><p> Around Q2 2022, Intel will launch its Sapphire Rapids Xeons. These will benefit from:</p><p><blockquote>大约在2022年第二季度，英特尔将推出其Sapphire Rapids至强处理器。这些将受益于：</blockquote></p><p> <ul>  <li>An early multi-die effort, allowing Intel to increase the core count to at least 56 cores. The CPU cores will be spread out in up to four dies, with 14 cores active in each (maybe more in the future).</li>  <li>A very large jump in single-threaded performance, similar or larger than the one enjoyed by Alder Lake.</li> </ul> At about the same time, though, AMD is likely to deploy its EPYC Milan-X server CPUs. The main change with these will be the use of 3D stacking to add extra cache on top of the execution units, making for much larger CPU caches. This will provide a performance improvement which will vary a lot across workloads (those more reliant on cache might benefit significantly, others not so much).</p><p><blockquote><ul><li>早期的多芯片努力，使英特尔能够将核心数量增加到至少56个核心。CPU内核将分布在多达四个管芯中，每个管芯有14个活动内核（将来可能会更多）。</li><li>单线程性能的巨大飞跃，与Alder Lake的性能相似或更大。</li></ul>不过，大约在同一时间，AMD可能会部署其EPYC Milan-X服务器CPU。这些的主要变化将是使用3D堆栈在执行单元的顶部添加额外的缓存，从而形成更大的CPU缓存。这将提供性能改进，这种改进在不同工作负载之间会有很大差异（那些更依赖缓存的工作负载可能会显著受益，而其他工作负载则没有那么大）。</blockquote></p><p> Without the launch of AMD’s EPYC Milan-X, it would seem that the single- and multi-threaded performance afforded by the use of improved Alder Lake-derived cores (Golden Cove), along with a better (not as punishing, performance-wise) multi-die approach, would allow Sapphire Rapids to surpass AMD’s EPYC Milan. This would happen with Sapphire Rapids matching or beating EPYC Milan’s multitasking abilities, while also enjoying a significant single-threaded performance advantage.</p><p><blockquote>如果没有AMD的EPYC Milan-X的推出，似乎通过使用改进的Alder Lake衍生内核(Golden Cove)提供的单线程和多线程性能，以及更好的（在性能方面不那么惩罚性）多芯片方法，将使Sapphire Rapids超越AMD的EPYC Milan。这将发生在Sapphire Rapids匹配或击败EPYC Milan的多任务处理能力，同时还享有显着的单线程性能优势。</blockquote></p><p> However, with the launch of EPYC Milan-X, I consider the situation too close to call, on account of Sapphire Rapids’ lower core count, along with some improvement in Milan’s overall performance.</p><p><blockquote>然而，随着EPYC Milan-X的推出，我认为情况与看涨期权过于接近，因为Sapphire Rapids的核心数量较低，而且Milan的整体性能也有所改善。</blockquote></p><p> Still, on the server side, Intel being on equal terms with AMD is actually an improvement right now.</p><p><blockquote>尽管如此，在服务器端，英特尔与AMD平起平坐实际上是一种进步。</blockquote></p><p> <b>Q4 2022</b></p><p><blockquote><b>2022年第四季度</b></blockquote></p><p> It all changes in AMD’s favor come Q4 2022, though. That’s when AMD will launch its EPYC Genoa generation, based on Zen 4 cores.</p><p><blockquote>不过，到2022年第四季度，这一切都发生了对AMD有利的变化。届时AMD将推出基于Zen 4内核的EPYC Genoa一代。</blockquote></p><p> This generation will bring a new architecture, be built on a new process node and enjoy the benefits from the 3D cache stacking used on EPYC Milan-X. It will also bump the maximum number of cores to 96. This will result in:</p><p><blockquote>这一代将带来新的架构，建立在新的工艺节点上，并享受EPYC Milan-X上使用的3D缓存堆叠带来的好处。它还将内核的最大数量提高到96个。这将导致：</blockquote></p><p> <ul>  <li>EPYC Genoa matching or beating Sapphire Rapids' single-threaded performance.</li>  <li>EPYC Genoa greatly outclassing Sapphire Rapids when it comes to the all-important (for server loads) multithreaded performance (96 vs 56 cores).</li> </ul> On account of this, AMD will again regain the upper hand in the server market.</p><p><blockquote><ul><li>EPYC Genoa匹配或击败Sapphire Rapids的单线程性能。</li><li>当谈到最重要的（对于服务器负载）多线程性能（96个内核对56个内核）时，EPYC Genoa大大超过了Sapphire Rapids。</li></ul>有鉴于此，AMD将再次在服务器市场占据上风。</blockquote></p><p> <b>Q1 2023</b></p><p><blockquote><b>2023年第一季度</b></blockquote></p><p> On Q1 2023, Intel will likely field a refresh of the Sapphire Rapids generation, code named Emerald Rapids. This generation will bring the benefits from the Raptor Lake desktop refresh to the server side. It will also bump the maximum number of cores to 64 from 56.</p><p><blockquote>2023年第一季度，英特尔可能会推出Sapphire Rapids一代的更新版本，代号为Emerald Rapids。这一代将把Raptor Lake桌面刷新的优势带到服务器端。它还将把内核的最大数量从56个提高到64个。</blockquote></p><p></p><p> Still, the advantage gained by the Zen 4-based EPYC Genoa seems large enough that Emerald Rapids won’t be enough to counter it. Emerald Rapids might get close on single-threaded use cases, but it will still remain far away in terms of multithreaded use cases – the most important for server CPUs most often handling virtualized workloads. Basically, the “number of cores” advantage enjoyed by EPYC Genoa will be unsurmountable by this iterative Intel effort.</p><p><blockquote>尽管如此，基于Zen 4的EPYC Genoa获得的优势似乎足够大，翡翠急流不足以抗衡它。Emerald Rapids可能会接近单线程用例，但在多线程用例方面仍然很远——这对于最常处理虚拟化工作负载的服务器CPU来说是最重要的。基本上，EPYC Genoa享有的“核心数量”优势将是英特尔这次迭代努力无法超越的。</blockquote></p><p> AMD will keep its advantage in the server space, and will thus continue to chip away at Intel’s market share throughout this period.</p><p><blockquote>AMD将保持其在服务器领域的优势，因此将在此期间继续蚕食英特尔的市场份额。</blockquote></p><p> <b>Q3 2023</b></p><p><blockquote><b>2023年第三季度</b></blockquote></p><p> At this point, on the server side, there will be a truly significant event. Intel will bring its Granite Rapids server CPU generation to the market.</p><p><blockquote>此时，在服务器端，将会出现一个真正意义重大的事件。英特尔将把其Granite Rapids服务器CPU一代推向市场。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f7c77d5b18968ad5fdc85e0aff296903\" tg-width=\"1280\" tg-height=\"502\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This generation enjoys benefits similar to those enjoyed by Meteor Lake on the desktop side, but to an even larger extent. Namely, this generation is set to bump the number of cores to 120, spread across two 60-core dies. This is significant in several ways:</p><p><blockquote>这一代人在桌面端享受到的好处与Meteor Lake类似，但程度更大。也就是说，这一代将内核数量增加到120个，分布在两个60核芯片上。这在几个方面具有重要意义：</blockquote></p><p> <ul>  <li>These cores, on a standalone basis, will likely beat Zen 4 cores by a wide single-threaded margin. This is so because at the starting point Zen 4 will be roughly matched to the previous Intel cores (Raptor Cove on Raptor Lake). Meteor Lake (and Granite Rapids), however, will be built with a new core architecture (Redwood Cove) and on a new process step. Thus, the performance gains are likely to be significant on a single-threaded basis.</li>  <li>By putting 120 cores on a single server CPU, Intel will for the first time in a long while, be having more cores per CPU than AMD. With each core being more powerful, this already ensures a significantly higher multithreaded performance.</li>  <li>But worse still, since the core dies are much larger on Intel’s Granite Rapids (two dies, 60 cores each) than on AMD’s EPYC Genoa (12 CCDs with 8 cores each), this will lead to another performance benefit for Granite Rapids: The latencies between its cores will be much lower, leading to a large relative performance gain (other things being equal).</li> </ul> From these effects, it seems a certainty that Intel will regain its performance lead, both on single-threaded and multithreaded use cases, on the server segment. And Intel's advantage will, at that point, be large. This is set to happen in Q3 2023, nearly two years from now.</p><p><blockquote><ul><li>这些内核，在独立的基础上，可能会以很大的单线程优势击败Zen 4内核。这是因为在起点上，Zen 4将与以前的英特尔内核大致匹配（猛禽湖上的猛禽湾）。然而，流星湖（和花岗岩急流）将采用新的核心架构（红杉湾）和新的工艺步骤建造。因此，在单线程的基础上，性能增益可能是显著的。</li><li>通过在单个服务器CPU上放置120个内核，英特尔将在很长一段时间内首次拥有比AMD更多的内核。随着每个内核变得更加强大，这已经确保了显著更高的多线程性能。</li><li>但更糟糕的是，由于英特尔Granite Rapids上的核心管芯（两个管芯，每个60个核心）比AMD的EPYC Genoa（12个CCD，每个8个核心）大得多，这将为Granite Rapids带来另一个性能优势：其核心之间的延迟将低得多，从而导致较大的相对性能增益（其他条件相同）。</li></ul>从这些影响来看，英特尔似乎肯定会在服务器领域的单线程和多线程用例中重新获得性能领先地位。到那时，英特尔的优势将是巨大的。这将于2023年第三季度发生，距今已近两年。</blockquote></p><p> After Granite Rapids, Intel is also promising another very large jump in performance, but this will already fall outside the timeframe for this article. AMD will also bring Zen 5, but its arrival schedule is still very uncertain.</p><p><blockquote>在Granite Rapids之后，英特尔还承诺在性能上再次大幅提升，但这已经超出了本文的时间范围。AMD也将带来Zen 5，但它的到来时间表仍然非常不确定。</blockquote></p><p> <b>A Charted Summary</b></p><p><blockquote><b>图表摘要</b></blockquote></p><p> The above translates into the following color-coded schematic for all the segments:</p><p><blockquote>以上内容转化为以下所有区段的彩色编码示意图：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19775dfb6f19634f9d4f428ef9b27d13\" tg-width=\"640\" tg-height=\"264\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Taking into account the near-term roadmaps, benchmarks, leaks and guidance, it seems Intel is on the verge of taking away the performance crown from AMD. This will happen by Intel first regaining the single-threaded crown by a visible margin, while more or less matching AMD on multitasking, followed by a period where Intel will get a lead on both counts, interrupted only briefly by AMD's Zen 4.</p><p><blockquote>考虑到近期的路线图、基准、泄露和指导，英特尔似乎即将从AMD手中夺走性能桂冠。这将通过英特尔首先以明显的优势重新夺回单线程桂冠，同时在多任务处理上或多或少与AMD相匹配，随后是一段时间，英特尔将在这两方面都领先，仅被AMD的Zen 4短暂打断。</blockquote></p><p> However, perhaps in the most important market segment, servers, AMD looks to be ahead of Intel until late 2023 – mostly on account of much higher core counts. This is two years away from today, and that’s a long time for the market to look forward to. Until then, AMD might well continue to take server share away from Intel. Also, it seems possible that near-term, AMD will also increase its threat to the laptop market, due to an incoming, very large, GPU processing power improvement.</p><p><blockquote>然而，也许在最重要的细分市场——服务器——AMD看起来将在2023年底之前领先于英特尔——这主要是因为核心数量要高得多。这距离今天还有两年的时间，市场期待的时间很长。在那之前，AMD很可能会继续从英特尔手中夺走服务器份额。此外，由于即将到来的非常大的GPU处理能力改进，AMD似乎也可能在短期内增加其对笔记本电脑市场的威胁。</blockquote></p><p> Within two years, it seems likely that Intel will again regain a sustainable performance advantage over AMD across all market segments. In the near term, Alder Lake will already imply pressure on AMD’s desktop margins (for a while, AMD has been commanding premium pricing in that market, when compared to Intel). Still, one wonders if the market will look that far forward right now.</p><p><blockquote>在两年内，英特尔似乎有可能在所有细分市场再次重新获得相对于AMD的可持续性能优势。在短期内，Alder Lake已经意味着AMD的台式机利润率面临压力（一段时间以来，与英特尔相比，AMD在该市场的定价一直很高）。尽管如此，人们还是想知道市场现在是否会向前看那么远。</blockquote></p><p> AMD stock is rendered dangerous in light of these developments. Intel stock might become more attractive, since Intel also seems to be improving its process technology at a higher cadence now, and its push into the foundry business might also be favorable.</p><p><blockquote>鉴于这些事态发展，AMD股票变得危险。英特尔股票可能会变得更具吸引力，因为英特尔现在似乎也在以更快的速度改进其工艺技术，而且其进军代工业务也可能是有利的。</blockquote></p><p> However, the current situation remains hard for Intel on the server market, and thus makes an immediate long bet somewhat hard as well even if the potential is visible. Considering this, I’m leaning slightly bearish on AMD and leaning slightly bullish on Intel, but it’s hard to commit to the position fully given the short-term server headwinds for Intel and tailwinds for AMD resulting from Zen 4 expectations.</p><p><blockquote>然而，英特尔在服务器市场上的现状仍然很困难，因此即使潜力是可见的，立即做多也有些困难。考虑到这一点，我倾向于稍微看跌AMD，稍微看涨英特尔，但考虑到英特尔的短期服务器阻力和Zen 4预期给AMD带来的顺风，很难完全承诺这一立场。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Vs. AMD: Competitive Prospects<blockquote>英特尔与AMD：竞争前景</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIntel Vs. AMD: Competitive Prospects<blockquote>英特尔与AMD：竞争前景</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-10-07 11:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>This is a (very) long look into the competitive positioning between Intel and AMD, on the CPU/SoC side, over the next 2+ years.</li>  <li>It covers the desktop, laptop and server segments.</li>  <li>There are changes happening, and more will be coming, to this competitive positioning.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad7be89aa0540e7ed8c51debe3aa0392\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Vedat OGUZCAN/iStock via Getty Images</span></p><p><blockquote><ul><li>这是对英特尔和AMD在未来两年多的CPU/SoC方面竞争定位的（非常）长时间的展望。</li><li>它涵盖了台式机、笔记本电脑和服务器领域。</li><li>这种竞争定位正在发生变化，而且还会有更多变化。</li></ul><p class=\"t-img-caption\"><span>Vedat OGUZCAN/iStock来自Getty Images</span></p></blockquote></p><p> This article will cover the present, and near-term (up to more than two years out), competitive prospects between Advanced Micro Devices(NASDAQ:AMD)and Intel(NASDAQ:INTC)on the CPU market. Namely, on its three main segments: desktop, laptop and server.</p><p><blockquote>本文将介绍Advanced Micro Devices（纳斯达克：AMD）和英特尔（纳斯达克：INTC）在CPU市场上的竞争前景。即其三个主要细分市场：台式机、笔记本电脑和服务器。</blockquote></p><p> The article was built through the careful aggregation of information from dozens of sources, taking into account the most credible reports backed by the most recent benchmarks and statements from Intel and AMD.</p><p><blockquote>这篇文章是通过仔细汇总来自数十个来源的信息而构建的，同时考虑了由英特尔和AMD的最新基准测试和声明支持的最可信的报告。</blockquote></p><p> <b>The Context</b></p><p><blockquote><b>上下文</b></blockquote></p><p> AMD has sprang a surprise. Since the first Zen 3-based chips reached the market, AMD has built up a significant advantage over Intel. This happened in the:</p><p><blockquote>AMD带来了惊喜。自从第一批基于Zen 3的芯片进入市场以来，AMD已经建立了相对于英特尔的显著优势。这发生在：</blockquote></p><p> <ul>  <li>Desktop segment, where Zen 3 chips got to achieve equivalent single-threaded performance, while besting Intel on multithreaded performance due to much higher core counts.</li>  <li>Laptop segment, though to a lesser extent, mostly on the strength of its multithreaded performance as well.</li>  <li>Server, with its EPYC CPUs, on account of very competitive multithreaded abilities as a result of much higher core counts, as well as better performance / energy consumption metrics. Moreover, since Intel had been unchallenged in the server space for so long, AMD found it easy to price its CPUs at much better price / performance and TCO (Total Cost of Ownership) / performance ratios.</li> </ul> AMD achieved this incredible feat through three developments:</p><p><blockquote><ul><li>台式机领域，Zen 3芯片实现了同等的单线程性能，同时由于内核数量高得多，在多线程性能上优于英特尔。</li><li>笔记本电脑细分市场，虽然程度较小，但主要是因为其多线程性能。</li><li>服务器，其EPYC CPU，由于更高的内核数量以及更好的性能/能耗指标，具有极具竞争力的多线程能力。此外，由于英特尔在服务器领域长期以来一直没有受到挑战，AMD发现很容易以更好的性价比和TCO（总拥有成本）/性能比为其CPU定价。</li></ul>AMD通过三项发展实现了这一令人难以置信的壮举：</blockquote></p><p> <ul>  <li>It finally built a competitive CPU architecture, enabling it to level the field in terms of IPC (Instructions Per Cycle).</li>  <li>It got access to a process advantage due to using an external supplier, TSMC(NYSE:TSM). TSMC surpassed Intel's process abilities, and with Intel fabricating its chips internally, this created a semi-permanent disadvantage for Intel CPUs. This happened on account of many Intel missteps and delays advancing its process technology.</li>  <li>And AMD's bet on a MCM (Multi-Chip Module) architecture, which enabled it to divide a monolithic CPU die (which is expensive to manufacture due to manufacturing yields being lower for larger dies) into many small, less expensive dies. This brought down the cost of the chip and allowed AMD to sell chips with many more cores than Intel's at similar price points.</li> </ul> Intel took a long time to respond to AMD’s challenge, giving AMD the possibility of catching and surpassing Intel.</p><p><blockquote><ul><li>它最终建立了一个有竞争力的CPU架构，使其能够在IPC（每周期指令数）方面与该领域持平。</li><li>由于使用外部供应商台积电（纽约证券交易所股票代码：TSM），它获得了工艺优势。台积电超越了英特尔的工艺能力，由于英特尔在内部制造芯片，这给英特尔CPU造成了半永久性的劣势。这是由于英特尔在推进其工艺技术方面的许多失误和延迟造成的。</li><li>AMD押注于MCM（多芯片模块）架构，这使其能够将单片CPU芯片（由于较大芯片的制造良率较低，因此制造成本较高）分成许多较小、较便宜的芯片。这降低了芯片的成本，使AMD能够以类似的价格销售比英特尔多得多的芯片。</li></ul>英特尔花了很长时间才应对AMD的挑战，让AMD有了追赶和超越英特尔的可能。</blockquote></p><p> Things move slowly when it comes to designing chips or evolving chipmaking processes, so the initial reaction would always have to be slow. In the meantime, AMD has been slowly but surely eroding Intel’s market position, including on the very profitable server market. Any increase in AMD competitivity would lead to this, since Intel started from very high market shares on account of AMD’s prior near-absolute lack of competitiveness.</p><p><blockquote>在设计芯片或发展芯片制造工艺方面，事情进展缓慢，因此最初的反应总是很慢。与此同时，AMD一直在缓慢但肯定地侵蚀英特尔的市场地位，包括在利润丰厚的服务器市场。AMD竞争力的任何增强都会导致这种情况，因为由于AMD之前几乎绝对缺乏竞争力，英特尔从非常高的市场份额开始。</blockquote></p><p> This is the starting point for my analysis today. At this point in time, AMD has been beating Intel like a redheaded stepchild across the market (by gaining market share), though slower on servers and laptops.</p><p><blockquote>这是我今天分析的出发点。目前，AMD已经像红发继子一样在整个市场上击败了英特尔（通过获得市场份额），尽管在服务器和笔记本电脑上速度较慢。</blockquote></p><p> Servers are a conservative market and move slower, while on laptops Intel’s 11thgeneration chips still managed to keep AMD somewhat at bay due to a large GPU performance gain while keeping decent performance on the CPU side.</p><p><blockquote>服务器是一个保守的市场，发展较慢，而在笔记本电脑上，英特尔的第11代芯片仍然设法在一定程度上阻止了AMD，因为GPU性能大幅提升，同时在CPU方面保持了不错的性能。</blockquote></p><p> Anyway, let’s check how things are set to evolve over the next 2-3 years.</p><p><blockquote>无论如何，让我们来看看未来2-3年事情将如何发展。</blockquote></p><p> <b>DesktopPresent</b></p><p><blockquote><b>桌面呈现</b></blockquote></p><p> In terms of desktop CPUs, currently the battle is fought between Intel’s 11thgeneration and AMD’s Ryzen 5000 series. Intel has a small lead in single threaded performance, but AMD has a very large lead on multitasking performance, due to AMD fielding CPUs with a higher core number. For instance, at the top of the range, AMD’s Ryzen 5950x has 16 cores 32 threads) to Intel’s 11900K 8 (16 threads).</p><p><blockquote>在桌面CPU方面，目前这场战斗在英特尔的第11代和AMD的锐龙5000系列之间进行。英特尔在单线程性能方面有很小的领先优势，但AMD在多任务性能方面有很大的领先优势，这是因为AMD部署了更高核心数的CPU。例如，在该系列的顶部，AMD的锐龙5950x有16个内核32个线程）到英特尔的11900K 8（16个线程）。</blockquote></p><p> Intel’s single threaded performance cannot compensate for the smaller number of cores, so presently AMD’s desktop offerings are more competitive.</p><p><blockquote>英特尔的单线程性能无法弥补内核数量的减少，因此目前AMD的台式机产品更具竞争力。</blockquote></p><p> <b>Next Month</b></p><p><blockquote><b>下个月</b></blockquote></p><p> The first shot on the renewed Intel/AMD war will be fired by Intel next month. That’s when Intel’s 12thgeneration, Alder Lake, will launch. This generation has one particularity: it will be the first time the x86 world will see the arrival of a big.little architecture.</p><p><blockquote>英特尔/AMD战争的第一枪将于下个月由英特尔打响。届时，英特尔的第12代Alder Lake将推出。这一代有一个特殊性：这将是x86世界第一次看到big.little架构的到来。</blockquote></p><p></p><p> In the case of Alder Lake, Intel will provide CPUs with up to 8 performance cores and another 8 efficiency cores. The performance cores have hyperthreading (two threads per core), the efficiency cores do not, hence, this 16-core CPU can run 24 threads, versus 32 on a top-of-the-line Ryzen. The top of the Intel Alder Lake line will be the i9-12900K CPU.</p><p><blockquote>在Alder Lake的案例中，英特尔将为CPU提供多达8个性能核心和另外8个效率核心。性能核心具有超线程（每个核心两个线程），效率核心没有，因此，这款16核CPU可以运行24个线程，而顶级锐龙只有32个线程。英特尔Alder Lake系列的顶级产品将是i9-12900K CPU。</blockquote></p><p> This chip will represent a huge step for Intel. From early tests, the 12900K is showing up to 2x higher performance in multitasking, when compared to the 11900K.</p><p><blockquote>这款芯片将代表英特尔向前迈出一大步。从早期测试来看，与11900K相比，12900K在多任务处理方面的性能提高了2倍。</blockquote></p><p> The jump in multitasking performance comes from two sources:</p><p><blockquote>多任务处理性能的跃升来自两个方面：</blockquote></p><p> <ul>  <li>The small efficiency cores are actually quite performant. They perform&nbsp;above the level of an SkyLake core&nbsp;(thus, at slightly less than 1/2 the performance on the new Performance cores), but do so while demanding significantly less power. Hence, although they are efficiency cores, they can still provide significant computing capacity which impacts the overall multitasking ability of the chip. Roughly, about 33% of the chip’s multitasking power can come from these cores.</li>  <li>Alder Lake also represents a large IPC jump, due to it using entirely new and much wider Performance core. This IPC gain is on the order of 19-20%, and a larger overall gain still might come from higher frequencies on top.</li> </ul> <b>Efficiency Cores</b></p><p><blockquote><ul><li>小效率核心实际上相当高性能。它们的性能高于SkyLake内核的水平（因此，略低于新性能内核的1/2），但同时需要的功率要低得多。因此，尽管它们是效率核心，但它们仍然可以提供显著的计算能力，这影响了芯片的整体多任务处理能力。大约33%的芯片多任务处理能力可以来自这些内核。</li><li>Alder Lake也代表了IPC的巨大飞跃，因为它使用了全新的和更广泛的性能核心。该IPC增益约为19-20%，并且更大的总体增益仍然可能来自顶部更高的频率。</li></ul><b>效率核心</b></blockquote></p><p> One of the big surprises with Intel’s Alder Lake generation, is the performance the E-Cores (Efficiency Cores, Gracemont) are said to attain. These cores, schematically, seem to occupy 1/4ththe area taken by the new Golden Cove P-Cores (Performance Cores). Yet, in Intel’s&nbsp;Architecture Day 2021 presentation, these cores are able to attain levels of performance over those hit by SkyLake cores.</p><p><blockquote>英特尔Alder Lake一代的一大惊喜是E核（效率核，Gracemont）据说可以达到的性能。示意性地说，这些核心似乎占据了新Golden Cove P核心（性能核心）所占面积的1/4。然而，在英特尔2021年架构日的演示中，这些内核能够达到超过SkyLake内核的性能水平。</blockquote></p><p> Notice the relative sizes:</p><p><blockquote>请注意相对大小：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/404ab04fb76822e023833b08316cccec\" tg-width=\"640\" tg-height=\"352\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/97305d665518f38620f00eedc89841f7\" tg-width=\"640\" tg-height=\"357\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> And notice the power/performance charts vs SkyLake</p><p><blockquote>并注意与SkyLake相比的功率/性能图表</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4e65c15620b40f9cb4e5282a096bc8b4\" tg-width=\"640\" tg-height=\"348\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The 80% performance jump doesn’t mean the core is 80% faster on single-threaded jobs. This is a multithreaded comparison, with four single-threaded efficiency cores vs twohyperthreadedSkyLake cores. For single-threaded performance:</p><p><blockquote>80%的性能跃升并不意味着内核在单线程作业上的速度提高了80%。这是一个多线程比较，四个单线程效率核心与两个HyperthreadedSkylake核心。对于单线程性能：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/714ffd1802677273d9b059fd270334c6\" tg-width=\"640\" tg-height=\"342\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Performance Cores</b></p><p><blockquote><b>性能核心</b></blockquote></p><p> At the same time, Intel’s big cores have made a large jump in performance. This jump is cumulative with what happened with Rocket Lake, and thus it has been enough to propel Intel well ahead of AMD’s current offerings when it comes to single threaded performance (~25%+).</p><p><blockquote>与此同时，英特尔的大核在性能上有了较大的跃升。这种跳跃与Rocket Lake的情况是累积的，因此在单线程性能方面，它足以推动英特尔远远领先于AMD当前的产品（约25%+）。</blockquote></p><p> The performance jump on the Performance cores, together with actually performant efficiency cores, also means that Alder Lake is able to match AMD's multithreaded performance even though it can only process 24 threads (16 threads on the 8 Performance cores, 8 threads on efficiency cores) vs AMD's 32 (on high-end chips).</p><p><blockquote>性能内核上的性能跃升，以及实际上高性能的效率内核，也意味着Alder Lake能够匹配AMD的多线程性能，即使它只能处理24个线程（8个性能内核上的16个线程，效率内核上的8个线程），而AMD的32个线程（在高端芯片上）。</blockquote></p><p> This performance jump by Intel arguably will put Intel at an advantage in the desktop market next month, as soon as Alder Lake launches.</p><p><blockquote>一旦Alder Lake推出，英特尔的这一性能跃升可以说将使英特尔在下个月的台式机市场占据优势。</blockquote></p><p> <b>Q1 2022</b></p><p><blockquote><b>2022年第一季度</b></blockquote></p><p> In Q1 2022, AMD’s 6000 series (Warhol) arrives. It will still be based on the Zen 3 architecture, and promises small (up to 5%) IPC gains, plus gains in other areas including frequency, aggregating to a~9% performance gain.</p><p><blockquote>2022年第一季度，AMD 6000系列（沃霍尔）上市。它仍将基于Zen 3架构，并承诺小幅（高达5%）IPC增益，加上包括频率在内的其他领域的增益，总计约9%的性能增益。</blockquote></p><p> This will clearly fall short of what Alder Lake is showing now, though it can create a small advantage on multithreaded uses. The desktop core count will remain at 16 cores, hence there’s no large leapfrogging of Intel’s effort.</p><p><blockquote>这显然达不到Alder Lake现在所展示的，尽管它可以在多线程使用上创造一点优势。台式机核心数量将保持在16个核心，因此英特尔的努力不会有大的飞跃。</blockquote></p><p> As a result, even with the AMD 6000 series shipping, Intel will likely retain the desktop performance crown.</p><p><blockquote>因此，即使AMD 6000系列出货，英特尔也可能会保住台式机性能桂冠。</blockquote></p><p> <b>Q3 2022</b></p><p><blockquote><b>2022年第三季度</b></blockquote></p><p> Come Q3 2022, Intel will likely release its 13thgeneration CPU family, Raptor Lake. This will be a refresh of Alder Lake, with minor IPC and memory improvements. The IPC and performance gains on this generation will likely mirror those attained by AMD on its AMD 6000 series.</p><p><blockquote>到2022年第三季度，英特尔可能会发布其第13代CPU系列Raptor Lake。这将是Alder Lake的更新，略有IPC和内存改进。这一代产品的IPC和性能提升可能会反映AMD在其AMD 6000系列上获得的提升。</blockquote></p><p> However, Intel will add another 8 efficiency cores to Raptor Lake on its high-end chip, upping the core count to 24 and the thread count to 32. What this means is:</p><p><blockquote>然而，英特尔将在其高端芯片上为Raptor Lake再增加8个效率核心，将核心数量增加到24个，线程数量增加到32个。这意味着：</blockquote></p><p> <ul>  <li>Given the estimated contribution by the efficiency cores to Alder Lake’s multithreaded performance (~33%) and 8 additional efficiency cores (doubles their count), these additional cores can thus add a further 33% multithreaded improvement;</li>  <li>And there will also be some single-threaded performance improvements.</li> </ul> This seems enough to put the 13900K CPU ahead of the high-end Ryzen 6000 CPU even on multithreaded scenarios. Thus, Raptor Lake will solidify Intel’s position at the top of the desktop market.</p><p><blockquote><ul><li>考虑到效率核心对Alder Lake多线程性能的估计贡献（~33%）和8个额外的效率核心（数量翻倍），这些额外的核心因此可以进一步增加33%的多线程改进；</li><li>并且也会有一些单线程性能的提升。</li></ul>即使在多线程场景下，这似乎也足以让13900K CPU领先于高端锐龙6000 CPU。因此，Raptor Lake将巩固英特尔在台式机市场的领先地位。</blockquote></p><p></p><p> <b>Q4 2022</b></p><p><blockquote><b>2022年第四季度</b></blockquote></p><p> AMD is set to launch the Zen 4-based Ryzen 7000 series (Raphael) at this time, likely close to year-end.</p><p><blockquote>AMD将在这个时候推出基于Zen 4的锐龙7000系列（拉斐尔），可能是在接近年底的时候。</blockquote></p><p> It’s hard to estimate how large the performance uplift will be, though it seems&nbsp;up to 29% IPC&nbsp;and 40%-45% overall performance gains over the current generation (Zen 3) might be attainable. The core count for Desktop chips will remain at 16 cores (32 threads). Zen 4 will be built on a new TSMC process node.</p><p><blockquote>很难估计性能提升会有多大，尽管与当前一代（Zen 3）相比，似乎可以实现高达29%的IPC和40%-45%的整体性能提升。台式机芯片的核心数量将保持在16个核心（32个线程）。Zen 4将建立在新的台积电工艺节点上。</blockquote></p><p> These are very significant gains. If they’re realized, they are probably enough to put Zen 4 slightly ahead of Intel’s Raptor Lake, or match it.</p><p><blockquote>这些都是非常重大的收获。如果它们被实现，它们可能足以让Zen 4略微领先于英特尔的Raptor Lake，或者与之匹敌。</blockquote></p><p> In my view, even if an advantage is gained, it will likely be small (given the large jump achieved by Alder Lake, and then reinforced by Raptor Lake). Hence, at this point – Q4 2022 -- things will be too close to call on the Desktop market.</p><p><blockquote>在我看来，即使获得了优势，也可能很小（考虑到Alder Lake实现的大幅跃升，然后由Raptor Lake加强）。因此，在这一点上——2022年第四季度——台式机市场的情况将与看涨期权过于接近。</blockquote></p><p> <b>Q2 2023</b></p><p><blockquote><b>2023年第二季度</b></blockquote></p><p> Intel will launch Meteor Lake. This is an entirely new architecture on a new process node (Intel 4). Although there are no performance numbers at this point, a new architecture together with a new process node is bound to produce a large IPC gain. On top of this, Meteor Lake will also be a truly MCM design, allowing Intel to more easily ramp up the core count, which will favor multithreaded performance.</p><p><blockquote>英特尔将推出流星湖。这是新进程节点（英特尔4）上的全新架构。虽然目前还没有性能数据，但新的架构和新的工艺节点必然会产生很大的IPC增益。除此之外，Meteor Lake也将是一个真正的MCM设计，允许英特尔更容易地增加核心数量，这将有利于多线程性能。</blockquote></p><p> Hence, when Meteor Lake is launched, Intel is highly likely to put itself firmly ahead of Zen 4 CPUs in the desktop market. AMD’s answer will only come much later, in the form of Zen 5. At this point, it’s possible that Intel will have gained, and will keep, the performance leadership for a longer time.</p><p><blockquote>因此，当Meteor Lake推出时，英特尔很有可能在台式机市场牢牢领先于Zen 4 CPU。AMD的答案只会在很久以后以Zen 5的形式出现。在这一点上，英特尔可能已经获得并将在更长的时间内保持性能领先地位。</blockquote></p><p> <b>LaptopPresent</b></p><p><blockquote><b>笔记本电脑存在</b></blockquote></p><p> Currently, the laptop battle is fought between Intel’s Tiger Lake-H and -U families and AMD’s Ryzen 5000 H and U series.</p><p><blockquote>目前，笔记本电脑之战在英特尔的Tiger Lake-H和-U系列与AMD的Ryzen 5000 H和U系列之间展开。</blockquote></p><p> Intel and AMD are well matched in the H segment, with single-threaded and multithreaded performance broadly similar between the two.</p><p><blockquote>英特尔和AMD在H细分市场非常匹配，两者的单线程和多线程性能大致相似。</blockquote></p><p> On the U segment, Intel provides a lower core count at the top (4 vs 8), which gives AMD a performance lead on multithreaded tasks. However, Intel then has a large lead on single-threaded performance, as well as a large lead on GPU performance.</p><p><blockquote>在U段，英特尔在顶部提供了较低的核心数量（4对8），这使得AMD在多线程任务上具有性能领先优势。然而，英特尔在单线程性能方面大幅领先，在GPU性能方面也大幅领先。</blockquote></p><p> Given the above, I’ve considered that it’s too close to call this segment right now.</p><p><blockquote>鉴于上述情况，我认为目前这一细分市场离看涨期权太近了。</blockquote></p><p> <b>Q1 2022</b></p><p><blockquote><b>2022年第一季度</b></blockquote></p><p> During Q1 2023, Intel will launch new CPUs for the laptop market (H and U families) based on its very performant Alder Lake generation (as we saw from the desktop segment).</p><p><blockquote>2023年第一季度，英特尔将为笔记本电脑市场（H和U系列）推出基于其高性能Alder Lake一代的新CPU（正如我们在台式机领域看到的那样）。</blockquote></p><p> These CPUs will go up to 6+8 cores (14 cores, 20 threads, H family) and 2+8 cores (10 cores, 12 threads, U family), which will represent a large increase in core and thread counts from the present Tiger Lake generation (H goes from 8 to 14 cores, 16 to 20 threads; U goes from 4 to 10 cores, 8 to 12 threads). Simultaneously, the Performance cores will have a 20% IPC uplift (and likely a larger overall performance gain).</p><p><blockquote>这些CPU将达到6+8核（14核，20线程，H系列）和2+8核（10核，12线程，U系列），这将代表当前Tiger Lake一代的核心和线程数量大幅增加（H从8核增加到14核，16线程增加到20线程；U从4核增加到10核，8线程增加到12线程）。同时，性能核心将有20%的IPC提升（并且可能有更大的整体性能增益）。</blockquote></p><p> Hence, compute performance will be substantially increased, putting it well ahead of the existing AMD Ryzen 5000 series. However, the maximum EU (Execution Unit) count on the Alder Lake mobile CPUs remains capped at 96 EUs. Moreover, it seems these EUs will be based on the same GPU generation as the existing Tiger Lake GPUs. Hence, GPU performance will likely not increase a lot.</p><p><blockquote>因此，计算性能将大幅提高，远远领先于现有的AMD锐龙5000系列。但是，Alder Lake移动CPU上的最大EU（执行单元）计数仍然限制在96个EU。此外，这些EU似乎将基于与现有Tiger Lake GPU相同的GPU一代。因此，GPU性能可能不会提高很多。</blockquote></p><p> At about the same time, AMD will launch Ryzen 6000 APUs (Rembrandt), which will somewhat improve overall performance (~9%). But most importantly, AMD will mate these APUs with an entirely new GPU generation based on its RDNA 2 technology. This change will bring extreme GPU performance increases because the prior APUs were still based on AMD’s outdated and outclassed Vega technology. The performance increases will likely exceed 100%, and will put AMD’s mobile offerings well ahead of Intel’s when it comes to GPU performance.</p><p><blockquote>大约在同一时间，AMD将推出锐龙6000 APUs（伦勃朗），这将在一定程度上提高整体性能（~9%）。但最重要的是，AMD将这些APU与基于其RDNA 2技术的全新一代GPU配对。这一变化将带来极大的GPU性能提升，因为之前的APU仍然基于AMD过时和超越的Vega技术。性能提升可能会超过100%，并将使AMD的移动产品在GPU性能方面远远领先于英特尔。</blockquote></p><p> Hence, as of Q1 2022 Intel will likely get the mobile CPU performance crown, but AMD will take away the integrated mobile GPU performance crown from Intel. As a result, I think the battle between these two products will be too close to call and will depend on each customer’s priorities.</p><p><blockquote>因此，截至2022年Q1，英特尔可能会获得移动CPU性能桂冠，但AMD将从英特尔手中夺走集成移动GPU性能桂冠。因此，我认为这两种产品之间的战斗将与看涨期权过于接近，并将取决于每个客户的优先事项。</blockquote></p><p> <b>Q3 2022</b></p><p><blockquote><b>2022年第三季度</b></blockquote></p><p> Intel’s mobile range will be refreshed with the launch of its 13thgeneration Raptor Lake CPUs. These will bring small CPU performance gains, which will build on the gains it attained with Alder Lake.</p><p><blockquote>随着第13代Raptor Lake CPU的推出，英特尔的移动产品系列将得到更新。这些将带来小幅的CPU性能提升，这将建立在Alder Lake获得的提升基础上。</blockquote></p><p> However, the big news with the mobile Raptor Lake CPUs is that they’ll switch the GPU technology, going from Intel LP GPUs to Intel HPG GPUs. Moreover, the maximum number of EUs will be increased from 96 to 192 (doubled).</p><p><blockquote>然而，移动Raptor Lake CPU的大新闻是，他们将切换GPU技术，从英特尔LP GPU转向英特尔HPG GPU。此外，欧盟的最大数量将从96个增加到192个（增加一倍）。</blockquote></p><p> This is a significant change. Intel’s HPG EUs are supposed to bring a 50% performance uplift (on the same power budget), and the doubling of the maximum EUs will bring another 100% performance uplift. Conceivably, the maximum GPU performance on Raptor Cove high-end mobile CPUs might increase as much as 200%, though Intel might sacrifice some of the potential improvement for energy saving reasons.</p><p><blockquote>这是一个重大的变化。英特尔的HPG EU应该会带来50%的性能提升（在相同的功耗预算下），最大EU的两倍将会带来另外100%的性能提升。可以想象，Raptor Cove高端移动CPU上的最大GPU性能可能会提高200%，尽管英特尔可能会出于节能原因牺牲一些潜在的改进。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/799bea21a599b46badc1d99a507745ec\" tg-width=\"640\" tg-height=\"351\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> When this is realized, Intel will attain performance superiority both on the CPU and GPU side in its mobile offerings. Hence, Intel will be at a clear advantage on the laptop market from Q3 2022 onwards.</p><p><blockquote>当这一点实现时，英特尔将在其移动产品的CPU和GPU方面获得性能优势。因此，从2022年第三季度起，英特尔将在笔记本电脑市场占据明显优势。</blockquote></p><p> <b>Q1 2023</b></p><p><blockquote><b>2023年第一季度</b></blockquote></p><p> Q1 2023 marks the likely arrival of Zen 4-based laptop CPUs from AMD. These will likely enable AMD to regain the upper hand on CPU multitasking performance, and possibly level things on the single-threaded performance side. It remains to be seen what will happen at the GPU level.</p><p><blockquote>2023年第一季度标志着AMD基于Zen 4的笔记本电脑CPU可能上市。这些可能会使AMD在CPU多任务性能上重新占据上风，并可能在单线程性能方面保持水平。GPU层面会发生什么还有待观察。</blockquote></p><p> In my view, like on the desktop side, AMD will regain the upper hand if the GPU side manages to surpass Intel’s big jump from using its HPG GPUs. Still, for me right now this segment will be too close to call once Zen 4 arrives.</p><p><blockquote>在我看来，就像在桌面端一样，如果GPU端能够超越英特尔使用其HPG GPU的巨大飞跃，AMD将重新占据上风。尽管如此，对我来说，一旦Zen 4到来，这个细分市场将过于接近看涨期权。</blockquote></p><p> <b>Q2 2023</b></p><p><blockquote><b>2023年第二季度</b></blockquote></p><p> In Q2 2023, Intel will likely start shipping its Meteor Lake 14thgeneration mobile CPUs. Meteor Lake is both a new architecture and it will be built on a new process node. Additionally, Meteor Lake will be Intel’s first truly MCM design of the modern era.</p><p><blockquote>2023年第二季度，英特尔可能会开始发货Meteor Lake第14代移动CPU。Meteor Lake既是一个新的架构，又将建立在一个新的流程节点上。此外，Meteor Lake将是英特尔第一个真正的现代MCM设计。</blockquote></p><p> As a result of so many performance-enhancing developments, Meteor Lake is likely to bring significant performance gains (15-20% or more, depending on Intel choices), both on multitasking and single-threaded scenarios. Since Meteor Lake will arrive when things are more or less balanced between Intel and AMD, this will immediately push Intel towards a clear leadership in the laptop segment.</p><p><blockquote>由于如此多的性能增强开发，Meteor Lake可能会在多任务和单线程场景中带来显著的性能提升（15-20%或更多，取决于英特尔的选择）。由于Meteor Lake将在英特尔和AMD之间的情况或多或少平衡时到来，这将立即推动英特尔在笔记本电脑领域取得明显的领先地位。</blockquote></p><p> <b>ServerPresent</b></p><p><blockquote><b>服务器呈现</b></blockquote></p><p> Presently, Intel’s Xeon Scalable 3rdGen tops out at 40 cores, while AMD’s EPYC Milan CPUs go all the way to 64 cores.</p><p><blockquote>目前，英特尔的至强可扩展第三代处理器最高可达40核，而AMD的EPYC米兰CPU最高可达64核。</blockquote></p><p> This large difference in number of cores means the Xeon is not very competitive in tasks involving maximum throughput. Cloud offerings often require high utilization rates, and thus the higher core count gives superiority to AMD and offers it a way to gain market share, which AMD has been taking advantage of.</p><p><blockquote>内核数量的巨大差异意味着至强在涉及最大吞吐量的任务中不太有竞争力。云产品通常需要高利用率，因此更高的核心数量为AMD带来了优势，并为其提供了一种获得市场份额的方式，AMD一直在利用这一点。</blockquote></p><p> <b>Q2 2022</b></p><p><blockquote><b>2022年第二季度</b></blockquote></p><p> Around Q2 2022, Intel will launch its Sapphire Rapids Xeons. These will benefit from:</p><p><blockquote>大约在2022年第二季度，英特尔将推出其Sapphire Rapids至强处理器。这些将受益于：</blockquote></p><p> <ul>  <li>An early multi-die effort, allowing Intel to increase the core count to at least 56 cores. The CPU cores will be spread out in up to four dies, with 14 cores active in each (maybe more in the future).</li>  <li>A very large jump in single-threaded performance, similar or larger than the one enjoyed by Alder Lake.</li> </ul> At about the same time, though, AMD is likely to deploy its EPYC Milan-X server CPUs. The main change with these will be the use of 3D stacking to add extra cache on top of the execution units, making for much larger CPU caches. This will provide a performance improvement which will vary a lot across workloads (those more reliant on cache might benefit significantly, others not so much).</p><p><blockquote><ul><li>早期的多芯片努力，使英特尔能够将核心数量增加到至少56个核心。CPU内核将分布在多达四个管芯中，每个管芯有14个活动内核（将来可能会更多）。</li><li>单线程性能的巨大飞跃，与Alder Lake的性能相似或更大。</li></ul>不过，大约在同一时间，AMD可能会部署其EPYC Milan-X服务器CPU。这些的主要变化将是使用3D堆栈在执行单元的顶部添加额外的缓存，从而形成更大的CPU缓存。这将提供性能改进，这种改进在不同工作负载之间会有很大差异（那些更依赖缓存的工作负载可能会显著受益，而其他工作负载则没有那么大）。</blockquote></p><p> Without the launch of AMD’s EPYC Milan-X, it would seem that the single- and multi-threaded performance afforded by the use of improved Alder Lake-derived cores (Golden Cove), along with a better (not as punishing, performance-wise) multi-die approach, would allow Sapphire Rapids to surpass AMD’s EPYC Milan. This would happen with Sapphire Rapids matching or beating EPYC Milan’s multitasking abilities, while also enjoying a significant single-threaded performance advantage.</p><p><blockquote>如果没有AMD的EPYC Milan-X的推出，似乎通过使用改进的Alder Lake衍生内核(Golden Cove)提供的单线程和多线程性能，以及更好的（在性能方面不那么惩罚性）多芯片方法，将使Sapphire Rapids超越AMD的EPYC Milan。这将发生在Sapphire Rapids匹配或击败EPYC Milan的多任务处理能力，同时还享有显着的单线程性能优势。</blockquote></p><p> However, with the launch of EPYC Milan-X, I consider the situation too close to call, on account of Sapphire Rapids’ lower core count, along with some improvement in Milan’s overall performance.</p><p><blockquote>然而，随着EPYC Milan-X的推出，我认为情况与看涨期权过于接近，因为Sapphire Rapids的核心数量较低，而且Milan的整体性能也有所改善。</blockquote></p><p> Still, on the server side, Intel being on equal terms with AMD is actually an improvement right now.</p><p><blockquote>尽管如此，在服务器端，英特尔与AMD平起平坐实际上是一种进步。</blockquote></p><p> <b>Q4 2022</b></p><p><blockquote><b>2022年第四季度</b></blockquote></p><p> It all changes in AMD’s favor come Q4 2022, though. That’s when AMD will launch its EPYC Genoa generation, based on Zen 4 cores.</p><p><blockquote>不过，到2022年第四季度，这一切都发生了对AMD有利的变化。届时AMD将推出基于Zen 4内核的EPYC Genoa一代。</blockquote></p><p> This generation will bring a new architecture, be built on a new process node and enjoy the benefits from the 3D cache stacking used on EPYC Milan-X. It will also bump the maximum number of cores to 96. This will result in:</p><p><blockquote>这一代将带来新的架构，建立在新的工艺节点上，并享受EPYC Milan-X上使用的3D缓存堆叠带来的好处。它还将内核的最大数量提高到96个。这将导致：</blockquote></p><p> <ul>  <li>EPYC Genoa matching or beating Sapphire Rapids' single-threaded performance.</li>  <li>EPYC Genoa greatly outclassing Sapphire Rapids when it comes to the all-important (for server loads) multithreaded performance (96 vs 56 cores).</li> </ul> On account of this, AMD will again regain the upper hand in the server market.</p><p><blockquote><ul><li>EPYC Genoa匹配或击败Sapphire Rapids的单线程性能。</li><li>当谈到最重要的（对于服务器负载）多线程性能（96个内核对56个内核）时，EPYC Genoa大大超过了Sapphire Rapids。</li></ul>有鉴于此，AMD将再次在服务器市场占据上风。</blockquote></p><p> <b>Q1 2023</b></p><p><blockquote><b>2023年第一季度</b></blockquote></p><p> On Q1 2023, Intel will likely field a refresh of the Sapphire Rapids generation, code named Emerald Rapids. This generation will bring the benefits from the Raptor Lake desktop refresh to the server side. It will also bump the maximum number of cores to 64 from 56.</p><p><blockquote>2023年第一季度，英特尔可能会推出Sapphire Rapids一代的更新版本，代号为Emerald Rapids。这一代将把Raptor Lake桌面刷新的优势带到服务器端。它还将把内核的最大数量从56个提高到64个。</blockquote></p><p></p><p> Still, the advantage gained by the Zen 4-based EPYC Genoa seems large enough that Emerald Rapids won’t be enough to counter it. Emerald Rapids might get close on single-threaded use cases, but it will still remain far away in terms of multithreaded use cases – the most important for server CPUs most often handling virtualized workloads. Basically, the “number of cores” advantage enjoyed by EPYC Genoa will be unsurmountable by this iterative Intel effort.</p><p><blockquote>尽管如此，基于Zen 4的EPYC Genoa获得的优势似乎足够大，翡翠急流不足以抗衡它。Emerald Rapids可能会接近单线程用例，但在多线程用例方面仍然很远——这对于最常处理虚拟化工作负载的服务器CPU来说是最重要的。基本上，EPYC Genoa享有的“核心数量”优势将是英特尔这次迭代努力无法超越的。</blockquote></p><p> AMD will keep its advantage in the server space, and will thus continue to chip away at Intel’s market share throughout this period.</p><p><blockquote>AMD将保持其在服务器领域的优势，因此将在此期间继续蚕食英特尔的市场份额。</blockquote></p><p> <b>Q3 2023</b></p><p><blockquote><b>2023年第三季度</b></blockquote></p><p> At this point, on the server side, there will be a truly significant event. Intel will bring its Granite Rapids server CPU generation to the market.</p><p><blockquote>此时，在服务器端，将会出现一个真正意义重大的事件。英特尔将把其Granite Rapids服务器CPU一代推向市场。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f7c77d5b18968ad5fdc85e0aff296903\" tg-width=\"1280\" tg-height=\"502\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This generation enjoys benefits similar to those enjoyed by Meteor Lake on the desktop side, but to an even larger extent. Namely, this generation is set to bump the number of cores to 120, spread across two 60-core dies. This is significant in several ways:</p><p><blockquote>这一代人在桌面端享受到的好处与Meteor Lake类似，但程度更大。也就是说，这一代将内核数量增加到120个，分布在两个60核芯片上。这在几个方面具有重要意义：</blockquote></p><p> <ul>  <li>These cores, on a standalone basis, will likely beat Zen 4 cores by a wide single-threaded margin. This is so because at the starting point Zen 4 will be roughly matched to the previous Intel cores (Raptor Cove on Raptor Lake). Meteor Lake (and Granite Rapids), however, will be built with a new core architecture (Redwood Cove) and on a new process step. Thus, the performance gains are likely to be significant on a single-threaded basis.</li>  <li>By putting 120 cores on a single server CPU, Intel will for the first time in a long while, be having more cores per CPU than AMD. With each core being more powerful, this already ensures a significantly higher multithreaded performance.</li>  <li>But worse still, since the core dies are much larger on Intel’s Granite Rapids (two dies, 60 cores each) than on AMD’s EPYC Genoa (12 CCDs with 8 cores each), this will lead to another performance benefit for Granite Rapids: The latencies between its cores will be much lower, leading to a large relative performance gain (other things being equal).</li> </ul> From these effects, it seems a certainty that Intel will regain its performance lead, both on single-threaded and multithreaded use cases, on the server segment. And Intel's advantage will, at that point, be large. This is set to happen in Q3 2023, nearly two years from now.</p><p><blockquote><ul><li>这些内核，在独立的基础上，可能会以很大的单线程优势击败Zen 4内核。这是因为在起点上，Zen 4将与以前的英特尔内核大致匹配（猛禽湖上的猛禽湾）。然而，流星湖（和花岗岩急流）将采用新的核心架构（红杉湾）和新的工艺步骤建造。因此，在单线程的基础上，性能增益可能是显著的。</li><li>通过在单个服务器CPU上放置120个内核，英特尔将在很长一段时间内首次拥有比AMD更多的内核。随着每个内核变得更加强大，这已经确保了显著更高的多线程性能。</li><li>但更糟糕的是，由于英特尔Granite Rapids上的核心管芯（两个管芯，每个60个核心）比AMD的EPYC Genoa（12个CCD，每个8个核心）大得多，这将为Granite Rapids带来另一个性能优势：其核心之间的延迟将低得多，从而导致较大的相对性能增益（其他条件相同）。</li></ul>从这些影响来看，英特尔似乎肯定会在服务器领域的单线程和多线程用例中重新获得性能领先地位。到那时，英特尔的优势将是巨大的。这将于2023年第三季度发生，距今已近两年。</blockquote></p><p> After Granite Rapids, Intel is also promising another very large jump in performance, but this will already fall outside the timeframe for this article. AMD will also bring Zen 5, but its arrival schedule is still very uncertain.</p><p><blockquote>在Granite Rapids之后，英特尔还承诺在性能上再次大幅提升，但这已经超出了本文的时间范围。AMD也将带来Zen 5，但它的到来时间表仍然非常不确定。</blockquote></p><p> <b>A Charted Summary</b></p><p><blockquote><b>图表摘要</b></blockquote></p><p> The above translates into the following color-coded schematic for all the segments:</p><p><blockquote>以上内容转化为以下所有区段的彩色编码示意图：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19775dfb6f19634f9d4f428ef9b27d13\" tg-width=\"640\" tg-height=\"264\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Taking into account the near-term roadmaps, benchmarks, leaks and guidance, it seems Intel is on the verge of taking away the performance crown from AMD. This will happen by Intel first regaining the single-threaded crown by a visible margin, while more or less matching AMD on multitasking, followed by a period where Intel will get a lead on both counts, interrupted only briefly by AMD's Zen 4.</p><p><blockquote>考虑到近期的路线图、基准、泄露和指导，英特尔似乎即将从AMD手中夺走性能桂冠。这将通过英特尔首先以明显的优势重新夺回单线程桂冠，同时在多任务处理上或多或少与AMD相匹配，随后是一段时间，英特尔将在这两方面都领先，仅被AMD的Zen 4短暂打断。</blockquote></p><p> However, perhaps in the most important market segment, servers, AMD looks to be ahead of Intel until late 2023 – mostly on account of much higher core counts. This is two years away from today, and that’s a long time for the market to look forward to. Until then, AMD might well continue to take server share away from Intel. Also, it seems possible that near-term, AMD will also increase its threat to the laptop market, due to an incoming, very large, GPU processing power improvement.</p><p><blockquote>然而，也许在最重要的细分市场——服务器——AMD看起来将在2023年底之前领先于英特尔——这主要是因为核心数量要高得多。这距离今天还有两年的时间，市场期待的时间很长。在那之前，AMD很可能会继续从英特尔手中夺走服务器份额。此外，由于即将到来的非常大的GPU处理能力改进，AMD似乎也可能在短期内增加其对笔记本电脑市场的威胁。</blockquote></p><p> Within two years, it seems likely that Intel will again regain a sustainable performance advantage over AMD across all market segments. In the near term, Alder Lake will already imply pressure on AMD’s desktop margins (for a while, AMD has been commanding premium pricing in that market, when compared to Intel). Still, one wonders if the market will look that far forward right now.</p><p><blockquote>在两年内，英特尔似乎有可能在所有细分市场再次重新获得相对于AMD的可持续性能优势。在短期内，Alder Lake已经意味着AMD的台式机利润率面临压力（一段时间以来，与英特尔相比，AMD在该市场的定价一直很高）。尽管如此，人们还是想知道市场现在是否会向前看那么远。</blockquote></p><p> AMD stock is rendered dangerous in light of these developments. Intel stock might become more attractive, since Intel also seems to be improving its process technology at a higher cadence now, and its push into the foundry business might also be favorable.</p><p><blockquote>鉴于这些事态发展，AMD股票变得危险。英特尔股票可能会变得更具吸引力，因为英特尔现在似乎也在以更快的速度改进其工艺技术，而且其进军代工业务也可能是有利的。</blockquote></p><p> However, the current situation remains hard for Intel on the server market, and thus makes an immediate long bet somewhat hard as well even if the potential is visible. Considering this, I’m leaning slightly bearish on AMD and leaning slightly bullish on Intel, but it’s hard to commit to the position fully given the short-term server headwinds for Intel and tailwinds for AMD resulting from Zen 4 expectations.</p><p><blockquote>然而，英特尔在服务器市场上的现状仍然很困难，因此即使潜力是可见的，立即做多也有些困难。考虑到这一点，我倾向于稍微看跌AMD，稍微看涨英特尔，但考虑到英特尔的短期服务器阻力和Zen 4预期给AMD带来的顺风，很难完全承诺这一立场。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4458744-intel-vs-amd-competitive-prospects\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司","INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4458744-intel-vs-amd-competitive-prospects","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146744889","content_text":"Summary\n\nThis is a (very) long look into the competitive positioning between Intel and AMD, on the CPU/SoC side, over the next 2+ years.\nIt covers the desktop, laptop and server segments.\nThere are changes happening, and more will be coming, to this competitive positioning.\n\nVedat OGUZCAN/iStock via Getty Images\nThis article will cover the present, and near-term (up to more than two years out), competitive prospects between Advanced Micro Devices(NASDAQ:AMD)and Intel(NASDAQ:INTC)on the CPU market. Namely, on its three main segments: desktop, laptop and server.\nThe article was built through the careful aggregation of information from dozens of sources, taking into account the most credible reports backed by the most recent benchmarks and statements from Intel and AMD.\nThe Context\nAMD has sprang a surprise. Since the first Zen 3-based chips reached the market, AMD has built up a significant advantage over Intel. This happened in the:\n\nDesktop segment, where Zen 3 chips got to achieve equivalent single-threaded performance, while besting Intel on multithreaded performance due to much higher core counts.\nLaptop segment, though to a lesser extent, mostly on the strength of its multithreaded performance as well.\nServer, with its EPYC CPUs, on account of very competitive multithreaded abilities as a result of much higher core counts, as well as better performance / energy consumption metrics. Moreover, since Intel had been unchallenged in the server space for so long, AMD found it easy to price its CPUs at much better price / performance and TCO (Total Cost of Ownership) / performance ratios.\n\nAMD achieved this incredible feat through three developments:\n\nIt finally built a competitive CPU architecture, enabling it to level the field in terms of IPC (Instructions Per Cycle).\nIt got access to a process advantage due to using an external supplier, TSMC(NYSE:TSM). TSMC surpassed Intel's process abilities, and with Intel fabricating its chips internally, this created a semi-permanent disadvantage for Intel CPUs. This happened on account of many Intel missteps and delays advancing its process technology.\nAnd AMD's bet on a MCM (Multi-Chip Module) architecture, which enabled it to divide a monolithic CPU die (which is expensive to manufacture due to manufacturing yields being lower for larger dies) into many small, less expensive dies. This brought down the cost of the chip and allowed AMD to sell chips with many more cores than Intel's at similar price points.\n\nIntel took a long time to respond to AMD’s challenge, giving AMD the possibility of catching and surpassing Intel.\nThings move slowly when it comes to designing chips or evolving chipmaking processes, so the initial reaction would always have to be slow. In the meantime, AMD has been slowly but surely eroding Intel’s market position, including on the very profitable server market. Any increase in AMD competitivity would lead to this, since Intel started from very high market shares on account of AMD’s prior near-absolute lack of competitiveness.\nThis is the starting point for my analysis today. At this point in time, AMD has been beating Intel like a redheaded stepchild across the market (by gaining market share), though slower on servers and laptops.\nServers are a conservative market and move slower, while on laptops Intel’s 11thgeneration chips still managed to keep AMD somewhat at bay due to a large GPU performance gain while keeping decent performance on the CPU side.\nAnyway, let’s check how things are set to evolve over the next 2-3 years.\nDesktopPresent\nIn terms of desktop CPUs, currently the battle is fought between Intel’s 11thgeneration and AMD’s Ryzen 5000 series. Intel has a small lead in single threaded performance, but AMD has a very large lead on multitasking performance, due to AMD fielding CPUs with a higher core number. For instance, at the top of the range, AMD’s Ryzen 5950x has 16 cores 32 threads) to Intel’s 11900K 8 (16 threads).\nIntel’s single threaded performance cannot compensate for the smaller number of cores, so presently AMD’s desktop offerings are more competitive.\nNext Month\nThe first shot on the renewed Intel/AMD war will be fired by Intel next month. That’s when Intel’s 12thgeneration, Alder Lake, will launch. This generation has one particularity: it will be the first time the x86 world will see the arrival of a big.little architecture.\nIn the case of Alder Lake, Intel will provide CPUs with up to 8 performance cores and another 8 efficiency cores. The performance cores have hyperthreading (two threads per core), the efficiency cores do not, hence, this 16-core CPU can run 24 threads, versus 32 on a top-of-the-line Ryzen. The top of the Intel Alder Lake line will be the i9-12900K CPU.\nThis chip will represent a huge step for Intel. From early tests, the 12900K is showing up to 2x higher performance in multitasking, when compared to the 11900K.\nThe jump in multitasking performance comes from two sources:\n\nThe small efficiency cores are actually quite performant. They perform above the level of an SkyLake core (thus, at slightly less than 1/2 the performance on the new Performance cores), but do so while demanding significantly less power. Hence, although they are efficiency cores, they can still provide significant computing capacity which impacts the overall multitasking ability of the chip. Roughly, about 33% of the chip’s multitasking power can come from these cores.\nAlder Lake also represents a large IPC jump, due to it using entirely new and much wider Performance core. This IPC gain is on the order of 19-20%, and a larger overall gain still might come from higher frequencies on top.\n\nEfficiency Cores\nOne of the big surprises with Intel’s Alder Lake generation, is the performance the E-Cores (Efficiency Cores, Gracemont) are said to attain. These cores, schematically, seem to occupy 1/4ththe area taken by the new Golden Cove P-Cores (Performance Cores). Yet, in Intel’s Architecture Day 2021 presentation, these cores are able to attain levels of performance over those hit by SkyLake cores.\nNotice the relative sizes:\n\nAnd notice the power/performance charts vs SkyLake\n\nThe 80% performance jump doesn’t mean the core is 80% faster on single-threaded jobs. This is a multithreaded comparison, with four single-threaded efficiency cores vs twohyperthreadedSkyLake cores. For single-threaded performance:\n\nPerformance Cores\nAt the same time, Intel’s big cores have made a large jump in performance. This jump is cumulative with what happened with Rocket Lake, and thus it has been enough to propel Intel well ahead of AMD’s current offerings when it comes to single threaded performance (~25%+).\nThe performance jump on the Performance cores, together with actually performant efficiency cores, also means that Alder Lake is able to match AMD's multithreaded performance even though it can only process 24 threads (16 threads on the 8 Performance cores, 8 threads on efficiency cores) vs AMD's 32 (on high-end chips).\nThis performance jump by Intel arguably will put Intel at an advantage in the desktop market next month, as soon as Alder Lake launches.\nQ1 2022\nIn Q1 2022, AMD’s 6000 series (Warhol) arrives. It will still be based on the Zen 3 architecture, and promises small (up to 5%) IPC gains, plus gains in other areas including frequency, aggregating to a~9% performance gain.\nThis will clearly fall short of what Alder Lake is showing now, though it can create a small advantage on multithreaded uses. The desktop core count will remain at 16 cores, hence there’s no large leapfrogging of Intel’s effort.\nAs a result, even with the AMD 6000 series shipping, Intel will likely retain the desktop performance crown.\nQ3 2022\nCome Q3 2022, Intel will likely release its 13thgeneration CPU family, Raptor Lake. This will be a refresh of Alder Lake, with minor IPC and memory improvements. The IPC and performance gains on this generation will likely mirror those attained by AMD on its AMD 6000 series.\nHowever, Intel will add another 8 efficiency cores to Raptor Lake on its high-end chip, upping the core count to 24 and the thread count to 32. What this means is:\n\nGiven the estimated contribution by the efficiency cores to Alder Lake’s multithreaded performance (~33%) and 8 additional efficiency cores (doubles their count), these additional cores can thus add a further 33% multithreaded improvement;\nAnd there will also be some single-threaded performance improvements.\n\nThis seems enough to put the 13900K CPU ahead of the high-end Ryzen 6000 CPU even on multithreaded scenarios. Thus, Raptor Lake will solidify Intel’s position at the top of the desktop market.\nQ4 2022\nAMD is set to launch the Zen 4-based Ryzen 7000 series (Raphael) at this time, likely close to year-end.\nIt’s hard to estimate how large the performance uplift will be, though it seems up to 29% IPC and 40%-45% overall performance gains over the current generation (Zen 3) might be attainable. The core count for Desktop chips will remain at 16 cores (32 threads). Zen 4 will be built on a new TSMC process node.\nThese are very significant gains. If they’re realized, they are probably enough to put Zen 4 slightly ahead of Intel’s Raptor Lake, or match it.\nIn my view, even if an advantage is gained, it will likely be small (given the large jump achieved by Alder Lake, and then reinforced by Raptor Lake). Hence, at this point – Q4 2022 -- things will be too close to call on the Desktop market.\nQ2 2023\nIntel will launch Meteor Lake. This is an entirely new architecture on a new process node (Intel 4). Although there are no performance numbers at this point, a new architecture together with a new process node is bound to produce a large IPC gain. On top of this, Meteor Lake will also be a truly MCM design, allowing Intel to more easily ramp up the core count, which will favor multithreaded performance.\nHence, when Meteor Lake is launched, Intel is highly likely to put itself firmly ahead of Zen 4 CPUs in the desktop market. AMD’s answer will only come much later, in the form of Zen 5. At this point, it’s possible that Intel will have gained, and will keep, the performance leadership for a longer time.\nLaptopPresent\nCurrently, the laptop battle is fought between Intel’s Tiger Lake-H and -U families and AMD’s Ryzen 5000 H and U series.\nIntel and AMD are well matched in the H segment, with single-threaded and multithreaded performance broadly similar between the two.\nOn the U segment, Intel provides a lower core count at the top (4 vs 8), which gives AMD a performance lead on multithreaded tasks. However, Intel then has a large lead on single-threaded performance, as well as a large lead on GPU performance.\nGiven the above, I’ve considered that it’s too close to call this segment right now.\nQ1 2022\nDuring Q1 2023, Intel will launch new CPUs for the laptop market (H and U families) based on its very performant Alder Lake generation (as we saw from the desktop segment).\nThese CPUs will go up to 6+8 cores (14 cores, 20 threads, H family) and 2+8 cores (10 cores, 12 threads, U family), which will represent a large increase in core and thread counts from the present Tiger Lake generation (H goes from 8 to 14 cores, 16 to 20 threads; U goes from 4 to 10 cores, 8 to 12 threads). Simultaneously, the Performance cores will have a 20% IPC uplift (and likely a larger overall performance gain).\nHence, compute performance will be substantially increased, putting it well ahead of the existing AMD Ryzen 5000 series. However, the maximum EU (Execution Unit) count on the Alder Lake mobile CPUs remains capped at 96 EUs. Moreover, it seems these EUs will be based on the same GPU generation as the existing Tiger Lake GPUs. Hence, GPU performance will likely not increase a lot.\nAt about the same time, AMD will launch Ryzen 6000 APUs (Rembrandt), which will somewhat improve overall performance (~9%). But most importantly, AMD will mate these APUs with an entirely new GPU generation based on its RDNA 2 technology. This change will bring extreme GPU performance increases because the prior APUs were still based on AMD’s outdated and outclassed Vega technology. The performance increases will likely exceed 100%, and will put AMD’s mobile offerings well ahead of Intel’s when it comes to GPU performance.\nHence, as of Q1 2022 Intel will likely get the mobile CPU performance crown, but AMD will take away the integrated mobile GPU performance crown from Intel. As a result, I think the battle between these two products will be too close to call and will depend on each customer’s priorities.\nQ3 2022\nIntel’s mobile range will be refreshed with the launch of its 13thgeneration Raptor Lake CPUs. These will bring small CPU performance gains, which will build on the gains it attained with Alder Lake.\nHowever, the big news with the mobile Raptor Lake CPUs is that they’ll switch the GPU technology, going from Intel LP GPUs to Intel HPG GPUs. Moreover, the maximum number of EUs will be increased from 96 to 192 (doubled).\nThis is a significant change. Intel’s HPG EUs are supposed to bring a 50% performance uplift (on the same power budget), and the doubling of the maximum EUs will bring another 100% performance uplift. Conceivably, the maximum GPU performance on Raptor Cove high-end mobile CPUs might increase as much as 200%, though Intel might sacrifice some of the potential improvement for energy saving reasons.\n\nWhen this is realized, Intel will attain performance superiority both on the CPU and GPU side in its mobile offerings. Hence, Intel will be at a clear advantage on the laptop market from Q3 2022 onwards.\nQ1 2023\nQ1 2023 marks the likely arrival of Zen 4-based laptop CPUs from AMD. These will likely enable AMD to regain the upper hand on CPU multitasking performance, and possibly level things on the single-threaded performance side. It remains to be seen what will happen at the GPU level.\nIn my view, like on the desktop side, AMD will regain the upper hand if the GPU side manages to surpass Intel’s big jump from using its HPG GPUs. Still, for me right now this segment will be too close to call once Zen 4 arrives.\nQ2 2023\nIn Q2 2023, Intel will likely start shipping its Meteor Lake 14thgeneration mobile CPUs. Meteor Lake is both a new architecture and it will be built on a new process node. Additionally, Meteor Lake will be Intel’s first truly MCM design of the modern era.\nAs a result of so many performance-enhancing developments, Meteor Lake is likely to bring significant performance gains (15-20% or more, depending on Intel choices), both on multitasking and single-threaded scenarios. Since Meteor Lake will arrive when things are more or less balanced between Intel and AMD, this will immediately push Intel towards a clear leadership in the laptop segment.\nServerPresent\nPresently, Intel’s Xeon Scalable 3rdGen tops out at 40 cores, while AMD’s EPYC Milan CPUs go all the way to 64 cores.\nThis large difference in number of cores means the Xeon is not very competitive in tasks involving maximum throughput. Cloud offerings often require high utilization rates, and thus the higher core count gives superiority to AMD and offers it a way to gain market share, which AMD has been taking advantage of.\nQ2 2022\nAround Q2 2022, Intel will launch its Sapphire Rapids Xeons. These will benefit from:\n\nAn early multi-die effort, allowing Intel to increase the core count to at least 56 cores. The CPU cores will be spread out in up to four dies, with 14 cores active in each (maybe more in the future).\nA very large jump in single-threaded performance, similar or larger than the one enjoyed by Alder Lake.\n\nAt about the same time, though, AMD is likely to deploy its EPYC Milan-X server CPUs. The main change with these will be the use of 3D stacking to add extra cache on top of the execution units, making for much larger CPU caches. This will provide a performance improvement which will vary a lot across workloads (those more reliant on cache might benefit significantly, others not so much).\nWithout the launch of AMD’s EPYC Milan-X, it would seem that the single- and multi-threaded performance afforded by the use of improved Alder Lake-derived cores (Golden Cove), along with a better (not as punishing, performance-wise) multi-die approach, would allow Sapphire Rapids to surpass AMD’s EPYC Milan. This would happen with Sapphire Rapids matching or beating EPYC Milan’s multitasking abilities, while also enjoying a significant single-threaded performance advantage.\nHowever, with the launch of EPYC Milan-X, I consider the situation too close to call, on account of Sapphire Rapids’ lower core count, along with some improvement in Milan’s overall performance.\nStill, on the server side, Intel being on equal terms with AMD is actually an improvement right now.\nQ4 2022\nIt all changes in AMD’s favor come Q4 2022, though. That’s when AMD will launch its EPYC Genoa generation, based on Zen 4 cores.\nThis generation will bring a new architecture, be built on a new process node and enjoy the benefits from the 3D cache stacking used on EPYC Milan-X. It will also bump the maximum number of cores to 96. This will result in:\n\nEPYC Genoa matching or beating Sapphire Rapids' single-threaded performance.\nEPYC Genoa greatly outclassing Sapphire Rapids when it comes to the all-important (for server loads) multithreaded performance (96 vs 56 cores).\n\nOn account of this, AMD will again regain the upper hand in the server market.\nQ1 2023\nOn Q1 2023, Intel will likely field a refresh of the Sapphire Rapids generation, code named Emerald Rapids. This generation will bring the benefits from the Raptor Lake desktop refresh to the server side. It will also bump the maximum number of cores to 64 from 56.\nStill, the advantage gained by the Zen 4-based EPYC Genoa seems large enough that Emerald Rapids won’t be enough to counter it. Emerald Rapids might get close on single-threaded use cases, but it will still remain far away in terms of multithreaded use cases – the most important for server CPUs most often handling virtualized workloads. Basically, the “number of cores” advantage enjoyed by EPYC Genoa will be unsurmountable by this iterative Intel effort.\nAMD will keep its advantage in the server space, and will thus continue to chip away at Intel’s market share throughout this period.\nQ3 2023\nAt this point, on the server side, there will be a truly significant event. Intel will bring its Granite Rapids server CPU generation to the market.\n\nThis generation enjoys benefits similar to those enjoyed by Meteor Lake on the desktop side, but to an even larger extent. Namely, this generation is set to bump the number of cores to 120, spread across two 60-core dies. This is significant in several ways:\n\nThese cores, on a standalone basis, will likely beat Zen 4 cores by a wide single-threaded margin. This is so because at the starting point Zen 4 will be roughly matched to the previous Intel cores (Raptor Cove on Raptor Lake). Meteor Lake (and Granite Rapids), however, will be built with a new core architecture (Redwood Cove) and on a new process step. Thus, the performance gains are likely to be significant on a single-threaded basis.\nBy putting 120 cores on a single server CPU, Intel will for the first time in a long while, be having more cores per CPU than AMD. With each core being more powerful, this already ensures a significantly higher multithreaded performance.\nBut worse still, since the core dies are much larger on Intel’s Granite Rapids (two dies, 60 cores each) than on AMD’s EPYC Genoa (12 CCDs with 8 cores each), this will lead to another performance benefit for Granite Rapids: The latencies between its cores will be much lower, leading to a large relative performance gain (other things being equal).\n\nFrom these effects, it seems a certainty that Intel will regain its performance lead, both on single-threaded and multithreaded use cases, on the server segment. And Intel's advantage will, at that point, be large. This is set to happen in Q3 2023, nearly two years from now.\nAfter Granite Rapids, Intel is also promising another very large jump in performance, but this will already fall outside the timeframe for this article. AMD will also bring Zen 5, but its arrival schedule is still very uncertain.\nA Charted Summary\nThe above translates into the following color-coded schematic for all the segments:\n\nConclusion\nTaking into account the near-term roadmaps, benchmarks, leaks and guidance, it seems Intel is on the verge of taking away the performance crown from AMD. This will happen by Intel first regaining the single-threaded crown by a visible margin, while more or less matching AMD on multitasking, followed by a period where Intel will get a lead on both counts, interrupted only briefly by AMD's Zen 4.\nHowever, perhaps in the most important market segment, servers, AMD looks to be ahead of Intel until late 2023 – mostly on account of much higher core counts. This is two years away from today, and that’s a long time for the market to look forward to. Until then, AMD might well continue to take server share away from Intel. Also, it seems possible that near-term, AMD will also increase its threat to the laptop market, due to an incoming, very large, GPU processing power improvement.\nWithin two years, it seems likely that Intel will again regain a sustainable performance advantage over AMD across all market segments. In the near term, Alder Lake will already imply pressure on AMD’s desktop margins (for a while, AMD has been commanding premium pricing in that market, when compared to Intel). Still, one wonders if the market will look that far forward right now.\nAMD stock is rendered dangerous in light of these developments. Intel stock might become more attractive, since Intel also seems to be improving its process technology at a higher cadence now, and its push into the foundry business might also be favorable.\nHowever, the current situation remains hard for Intel on the server market, and thus makes an immediate long bet somewhat hard as well even if the potential is visible. Considering this, I’m leaning slightly bearish on AMD and leaning slightly bullish on Intel, but it’s hard to commit to the position fully given the short-term server headwinds for Intel and tailwinds for AMD resulting from Zen 4 expectations.","news_type":1,"symbols_score_info":{"AMD":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690739608,"gmtCreate":1639707165701,"gmtModify":1639708354181,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Sure create confusion with tpg mobile","listText":"Sure create confusion with tpg mobile","text":"Sure create confusion with tpg mobile","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690739608","repostId":"1159478375","repostType":4,"isVote":1,"tweetType":1,"viewCount":2470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601370459,"gmtCreate":1638494648164,"gmtModify":1638496862998,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Can consider when it drops lower","listText":"Can consider when it drops lower","text":"Can consider when it drops lower","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601370459","repostId":"2188951783","repostType":2,"isVote":1,"tweetType":1,"viewCount":2645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877469784,"gmtCreate":1637973488421,"gmtModify":1637979358756,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Interesting, wait and see if it drops more so can go bargain hunting","listText":"Interesting, wait and see if it drops more so can go bargain hunting","text":"Interesting, wait and see if it drops more so can go bargain hunting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877469784","repostId":"1177270358","repostType":4,"repost":{"id":"1177270358","kind":"news","pubTimestamp":1637972840,"share":"https://www.laohu8.com/m/news/1177270358?lang=zh_CN&edition=full","pubTime":"2021-11-27 08:27","market":"us","language":"en","title":"Why Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177270358","media":"Motley Fool","summary":"What happened\nShares of all the major U.S. bank stocks struggled today, along with the Dow Jones Ind","content":"<p>What happened</p><p><blockquote>发生了什么</blockquote></p><p> Shares of all the major U.S. bank stocks struggled today, along with the&nbsp;<b>Dow Jones Industrial Average</b>, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.</p><p><blockquote>今天，美国所有主要银行股的股价都陷入困境，<b>道琼斯工业平均指数</b>在这个缩短的交易日中，该指数一度下跌1,000点，这是该指数2021年全年最严重的跌幅。</blockquote></p><p> Shares of America's largest bank by assets,<b>JPMorgan Chase</b>(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,<b>Bank of America</b>(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down&nbsp;<b>Citigroup</b>(NYSE:C)had fallen more than 3%, and&nbsp;<b>Wells Fargo</b>(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.</p><p><blockquote>美国资产规模最大的银行的股票，<b>摩根大通</b>（纽约证券交易所股票代码：JPM）截至中午12:30下跌3.4%。美国东部时间，而美国第二大银行的股价，<b>美国银行</b>（纽约证券交易所代码：BAC），跌幅超过4%。与此同时，越受打击<b>花旗集团</b>(NYSE：C)下跌超过3%，并且<b>富国银行</b>（纽约证券交易所股票代码：WFC）下跌超过5%。对于更稳定的大盘股来说，这些都是每日大幅波动。</blockquote></p><p> So what</p><p><blockquote>那又怎样</blockquote></p><p> While Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.</p><p><blockquote>当美国人正在享受感恩节大餐时，多家媒体报道称，南非出现了一种新的冠状病毒变种，称为B.1.1.529变种。</blockquote></p><p> Scientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company&nbsp;<b>Merck</b>, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.</p><p><blockquote>科学家报告说，该菌株的刺突蛋白有30多个突变，刺突蛋白是病毒附着在人体细胞上的部分。这明显比德尔塔变异毒株的突变多。雪上加霜的是，药企<b>默克</b>该公司一直在开发一种抗病毒药物，用于在人们感染病毒后治疗更严重的COVID-19病例，该公司透露，该药物的治疗效果并不像最初希望的那样有效。</blockquote></p><p> The variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.</p><p><blockquote>这一变异消息引起了全球的强烈反应，世界卫生组织召开了紧急会议进行讨论。此外，欧盟提议禁止来自南非的航班。人们对B.1.1.529变种的病例有多严重知之甚少，但早期的知识让科学家和专家非常担忧。</blockquote></p><p> \"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.</p><p><blockquote>预防医学教授威廉·沙夫纳(William Schaffner)表示：“如果我们有另一种比达美病毒更容易传播的新冠病毒株，那将对我们世界各地的所有人构成挑战，因为当达美病毒今年夏天到来时，它改变了游戏规则。”范德比尔特大学今天告诉CNBC。</blockquote></p><p> Banksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.</p><p><blockquote>银行与经济密切相关，因为它们放贷并与经济中的大多数部门互动。因此，每当一个新的变种出现并威胁增加病例时，这个行业就会受到打击，因为投资者担心未来潜在的封锁、经济增长停滞以及潜在的贷款质量担忧。</blockquote></p><p> The news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.</p><p><blockquote>这一消息也是在市场已经岌岌可危的时候发布的，过去几周，市场一直在应对更强劲的通胀环境、不断上升的债券收益率以及美联储明年可能上调基准联邦基金利率的情绪日益高涨。</blockquote></p><p> Furthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.</p><p><blockquote>此外，拉斯伯恩投资管理公司联席首席投资官爱德华·史密斯表示，与通胀的斗争可能会使联邦政府更难应对新一波严重的冠状病毒。</blockquote></p><p> \"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he told<i>The Wall Street Journal</i>. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.</p><p><blockquote>“这是令人担忧的一大原因：考虑到通胀，这次政策是否能够应对并救助市场和经济？”他告诉<i>华尔街日报</i>.史密斯还表示，更多的封锁或限制可能会继续增加全球供应链问题，并加剧通胀。</blockquote></p><p> Now what</p><p><blockquote>现在怎么办</blockquote></p><p> While I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.</p><p><blockquote>虽然我认为全球对这种新变种的强烈反应是有道理的，但我还没有准备好恐慌。我们仍然不知道它有多严重，也不知道它是否能逃避疫苗。</blockquote></p><p> I also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great&nbsp;buying opportunity.</p><p><blockquote>考虑到这些大型美国银行股在2020年大流行期间的表现，我对它们也非常有信心。他们都拥有强大的资本水平和大量的流动性，这让我对他们能够度过另一场低迷充满信心。特别是，花旗集团的回调（其交易价格已经处于低迷水平）在我看来是一个绝佳的买入机会。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Shares of Wells Fargo, Citigroup, Bank of America, and JPMorgan Chase Are Falling Today<blockquote>为什么富国银行、花旗集团、美国银行和摩根大通的股价今天下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-11-27 08:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What happened</p><p><blockquote>发生了什么</blockquote></p><p> Shares of all the major U.S. bank stocks struggled today, along with the&nbsp;<b>Dow Jones Industrial Average</b>, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.</p><p><blockquote>今天，美国所有主要银行股的股价都陷入困境，<b>道琼斯工业平均指数</b>在这个缩短的交易日中，该指数一度下跌1,000点，这是该指数2021年全年最严重的跌幅。</blockquote></p><p> Shares of America's largest bank by assets,<b>JPMorgan Chase</b>(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,<b>Bank of America</b>(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down&nbsp;<b>Citigroup</b>(NYSE:C)had fallen more than 3%, and&nbsp;<b>Wells Fargo</b>(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.</p><p><blockquote>美国资产规模最大的银行的股票，<b>摩根大通</b>（纽约证券交易所股票代码：JPM）截至中午12:30下跌3.4%。美国东部时间，而美国第二大银行的股价，<b>美国银行</b>（纽约证券交易所代码：BAC），跌幅超过4%。与此同时，越受打击<b>花旗集团</b>(NYSE：C)下跌超过3%，并且<b>富国银行</b>（纽约证券交易所股票代码：WFC）下跌超过5%。对于更稳定的大盘股来说，这些都是每日大幅波动。</blockquote></p><p> So what</p><p><blockquote>那又怎样</blockquote></p><p> While Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.</p><p><blockquote>当美国人正在享受感恩节大餐时，多家媒体报道称，南非出现了一种新的冠状病毒变种，称为B.1.1.529变种。</blockquote></p><p> Scientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company&nbsp;<b>Merck</b>, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.</p><p><blockquote>科学家报告说，该菌株的刺突蛋白有30多个突变，刺突蛋白是病毒附着在人体细胞上的部分。这明显比德尔塔变异毒株的突变多。雪上加霜的是，药企<b>默克</b>该公司一直在开发一种抗病毒药物，用于在人们感染病毒后治疗更严重的COVID-19病例，该公司透露，该药物的治疗效果并不像最初希望的那样有效。</blockquote></p><p> The variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.</p><p><blockquote>这一变异消息引起了全球的强烈反应，世界卫生组织召开了紧急会议进行讨论。此外，欧盟提议禁止来自南非的航班。人们对B.1.1.529变种的病例有多严重知之甚少，但早期的知识让科学家和专家非常担忧。</blockquote></p><p> \"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.</p><p><blockquote>预防医学教授威廉·沙夫纳(William Schaffner)表示：“如果我们有另一种比达美病毒更容易传播的新冠病毒株，那将对我们世界各地的所有人构成挑战，因为当达美病毒今年夏天到来时，它改变了游戏规则。”范德比尔特大学今天告诉CNBC。</blockquote></p><p> Banksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.</p><p><blockquote>银行与经济密切相关，因为它们放贷并与经济中的大多数部门互动。因此，每当一个新的变种出现并威胁增加病例时，这个行业就会受到打击，因为投资者担心未来潜在的封锁、经济增长停滞以及潜在的贷款质量担忧。</blockquote></p><p> The news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.</p><p><blockquote>这一消息也是在市场已经岌岌可危的时候发布的，过去几周，市场一直在应对更强劲的通胀环境、不断上升的债券收益率以及美联储明年可能上调基准联邦基金利率的情绪日益高涨。</blockquote></p><p> Furthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.</p><p><blockquote>此外，拉斯伯恩投资管理公司联席首席投资官爱德华·史密斯表示，与通胀的斗争可能会使联邦政府更难应对新一波严重的冠状病毒。</blockquote></p><p> \"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he told<i>The Wall Street Journal</i>. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.</p><p><blockquote>“这是令人担忧的一大原因：考虑到通胀，这次政策是否能够应对并救助市场和经济？”他告诉<i>华尔街日报</i>.史密斯还表示，更多的封锁或限制可能会继续增加全球供应链问题，并加剧通胀。</blockquote></p><p> Now what</p><p><blockquote>现在怎么办</blockquote></p><p> While I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.</p><p><blockquote>虽然我认为全球对这种新变种的强烈反应是有道理的，但我还没有准备好恐慌。我们仍然不知道它有多严重，也不知道它是否能逃避疫苗。</blockquote></p><p> I also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great&nbsp;buying opportunity.</p><p><blockquote>考虑到这些大型美国银行股在2020年大流行期间的表现，我对它们也非常有信心。他们都拥有强大的资本水平和大量的流动性，这让我对他们能够度过另一场低迷充满信心。特别是，花旗集团的回调（其交易价格已经处于低迷水平）在我看来是一个绝佳的买入机会。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/11/26/why-shares-of-wells-fargo-citigroup-bank-of-americ/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","BAC":"美国银行","C":"花旗","WFC":"富国银行"},"source_url":"https://www.fool.com/investing/2021/11/26/why-shares-of-wells-fargo-citigroup-bank-of-americ/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177270358","content_text":"What happened\nShares of all the major U.S. bank stocks struggled today, along with the Dow Jones Industrial Average, which at one point fell 1,000 points on this shortened day of trading -- the worst drop for the index in all of 2021.\nShares of America's largest bank by assets,JPMorgan Chase(NYSE:JPM), had fallen 3.4% as of 12:30 p.m. EST, while shares of the second-largest bank in the U.S.,Bank of America(NYSE:BAC), dropped more than 4%. Meanwhile, the more beaten-down Citigroup(NYSE:C)had fallen more than 3%, and Wells Fargo(NYSE:WFC)declined more than 5%. These are big daily moves for more stable large-cap stocks.\nSo what\nWhile Americans were enjoying their Thanksgiving meals, multiple media outlets reported that a new variant of the coronavirus had emerged in South Africa known as B.1.1.529 variant.\nScientists reported that the strain had more than 30 mutations to the spike protein, which is the part of the virus that attaches to a person's cells. This is significantly more mutations than the delta variant. Adding to the storm, pharmaceutical company Merck, which has been developing an antiviral pill to treat more severe cases of COVID-19 after people contract the virus, disclosed that the pill was not as effective at treatment as had been initially hoped.\nThe variant news resulted in a strong global reaction, as the World Health Organization called an emergency meeting to discuss it. Additionally, the European Union proposed a ban on flights from South Africa. Little is yet known over how severe cases from the B.1.1.529 variant are, but early knowledge has scientists and experts extremely concerned.\n\"If we have another COVID strain that can spread even more readily than delta, that would pose a challenge to all of us around the world, because when delta arrived this summer, it changed the game,\" William Schaffner, a professor of preventive medicine at Vanderbilt University, told CNBC today.\nBanksare extremely linked to the economy due to the fact that they lend money and interact with most sectors in it. So any time a new variant pops up and threatens to increase cases, it is one sector that will take a hit because investors fear potential future lockdowns, stalling economic growth, and potential loan quality concerns.\nThe news also comes at an already treacherous time for the market, which over the past few weeks has been dealing with a stronger inflationary environment, rising bond yields, and increasing sentiment that the Federal Reserve may raise its benchmark federal funds rate next year.\nFurthermore, the struggles with inflation may make it more difficult for the federal government to respond to a new severe wave of the coronavirus, says Edward Smith, co-chief investment officer at the Rathbone Investment Management.\n\"That's the big cause for concern: Is policy able to respond and bail out markets and economies this time given inflation?\" he toldThe Wall Street Journal. Smith also said that more lockdowns or restrictions could continue to increase global supply chain issues and add to inflation.\nNow what\nWhile I think the strong global reaction to this new variant is warranted, I am not ready to panic just yet. We still don't know how severe it is or if it can evade vaccines.\nI also feel quite confident in these large-cap U.S. bank stocks considering how well they held up during the pandemic in 2020. They all have strong levels of capital and lots of liquidity, giving me every bit of confidence they could survive another downturn. In particular, the pullback on Citigroup, which already traded at beaten-down levels, strikes me as a great buying opportunity.","news_type":1,"symbols_score_info":{"BAC":0.9,"C":0.9,"WFC":0.9,"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":3246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853706242,"gmtCreate":1634833610023,"gmtModify":1634867890774,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853706242","repostId":"2177654604","repostType":4,"isVote":1,"tweetType":1,"viewCount":2743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853267076,"gmtCreate":1634816435956,"gmtModify":1634816800372,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853267076","repostId":"1126974417","repostType":4,"repost":{"id":"1126974417","kind":"news","pubTimestamp":1634814957,"share":"https://www.laohu8.com/m/news/1126974417?lang=zh_CN&edition=full","pubTime":"2021-10-21 19:15","market":"us","language":"en","title":"Is Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126974417","media":"Motley Fool","summary":"Earlier this year,Amazon.com(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos woul","content":"<p>Earlier this year,<b>Amazon.com</b>(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.</p><p><blockquote>今年早些时候，<b>亚马逊</b>（纳斯达克：AMZN）出人意料地宣布，创始人杰夫·贝索斯将从2021年第三季度开始辞去公司首席执行官一职。亚马逊表示，此前领导该公司快速增长的云计算业务的安迪·贾西(Andy Jassy)将执掌该公司。</blockquote></p><p> With Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.</p><p><blockquote>随着贝佐斯的集体行为兑现，压力来了。下周，当这家电子商务巨头公布第三季度业绩时，投资者将看到该公司在贾西担任公司首席执行官的第一个季度的领导下表现如何。</blockquote></p><p> Ahead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the&nbsp;growth stock&nbsp;may be attractive going into the update.</p><p><blockquote>在亚马逊重要的第三季度更新之前，这里是收益报告的预览，以及成长型股票在更新中是否具有吸引力。</blockquote></p><p> Amazon earnings: what to watch</p><p><blockquote>亚马逊收益：值得关注</blockquote></p><p> When the&nbsp;e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.</p><p><blockquote>当这家电子商务和云计算专家下周四公布财报时，投资者将密切关注亚马逊能否与一年前的艰难比较相媲美，当时由于世界各地许多消费者都躲在家里，亚马逊的收入正在飙升。</blockquote></p><p> In Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.</p><p><blockquote>在亚马逊第二季度财报发布中，管理层预计第三季度营收在1060亿美元至1120亿美元之间。这意味着收入增长率为10%至16%，较上一季度27%的增长和去年同期37%的增长显着放缓。</blockquote></p><p> Analysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.</p><p><blockquote>分析师似乎基本上认为亚马逊指导范围的中点过于保守。平均而言，分析师预测第三季度收入将处于该公司指导范围的高端。</blockquote></p><p> Is Amazon stock a buy today?</p><p><blockquote>亚马逊股票今天值得买入吗？</blockquote></p><p> While the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.</p><p><blockquote>虽然该公司报告的收入增长率肯定值得检查，但许多投资者可能想到的一个更大的问题是，该股今天是否值得买入。</blockquote></p><p> While it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.</p><p><blockquote>虽然无法知道这家电子商务巨头的股价在短期内甚至在该公司第三季度财报发布后将走向何方，但投资者可以看看亚马逊股票的估值，看看它相对于亚马逊股票的估值是否具有吸引力。这家电子商务巨头的长期潜力。</blockquote></p><p> Despite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.</p><p><blockquote>尽管该公司的市值超过1.7万亿美元，令人震惊，但在这个水平上，股票看起来值得买入。考虑到亚马逊约60的市盈率实际上相当便宜，考虑到该公司的营收表现和稳步扩大的营业利润率。</blockquote></p><p> With strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.</p><p><blockquote>凭借强劲的收入增长和不断扩大的营业利润率，亚马逊的商业模式正在展现出巨大的运营杠杆。这意味着从长远来看，每股收益的增长可能会快于收入的增长。事实上，分析师们的预期正是如此。目前评级分析师普遍预测，未来五年亚马逊每股收益将以平均年化37%的速度增长。</blockquote></p><p> Given management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.</p><p><blockquote>鉴于管理层对第三季度收入强劲两位数增长的指导——尽管亚马逊面临着与去年同期的艰难比较——以及该公司明确的运营杠杆，亚马逊股票今天看起来是一个不错的长期买入。</blockquote></p><p> Of course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.</p><p><blockquote>当然，投资者应该密切关注亚马逊的营收增长率。如果减速速度快于预期，这可能意味着分析师（和投资者）高估了该公司的长期潜力。</blockquote></p><p> Amazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.</p><p><blockquote>亚马逊第三季度报告定于10月28日星期四收盘后发布。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Amazon Stock a Buy Ahead of Earnings?<blockquote>亚马逊股票是否值得在盈利前买入？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-21 19:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earlier this year,<b>Amazon.com</b>(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.</p><p><blockquote>今年早些时候，<b>亚马逊</b>（纳斯达克：AMZN）出人意料地宣布，创始人杰夫·贝索斯将从2021年第三季度开始辞去公司首席执行官一职。亚马逊表示，此前领导该公司快速增长的云计算业务的安迪·贾西(Andy Jassy)将执掌该公司。</blockquote></p><p> With Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.</p><p><blockquote>随着贝佐斯的集体行为兑现，压力来了。下周，当这家电子商务巨头公布第三季度业绩时，投资者将看到该公司在贾西担任公司首席执行官的第一个季度的领导下表现如何。</blockquote></p><p> Ahead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the&nbsp;growth stock&nbsp;may be attractive going into the update.</p><p><blockquote>在亚马逊重要的第三季度更新之前，这里是收益报告的预览，以及成长型股票在更新中是否具有吸引力。</blockquote></p><p> Amazon earnings: what to watch</p><p><blockquote>亚马逊收益：值得关注</blockquote></p><p> When the&nbsp;e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.</p><p><blockquote>当这家电子商务和云计算专家下周四公布财报时，投资者将密切关注亚马逊能否与一年前的艰难比较相媲美，当时由于世界各地许多消费者都躲在家里，亚马逊的收入正在飙升。</blockquote></p><p> In Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.</p><p><blockquote>在亚马逊第二季度财报发布中，管理层预计第三季度营收在1060亿美元至1120亿美元之间。这意味着收入增长率为10%至16%，较上一季度27%的增长和去年同期37%的增长显着放缓。</blockquote></p><p> Analysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.</p><p><blockquote>分析师似乎基本上认为亚马逊指导范围的中点过于保守。平均而言，分析师预测第三季度收入将处于该公司指导范围的高端。</blockquote></p><p> Is Amazon stock a buy today?</p><p><blockquote>亚马逊股票今天值得买入吗？</blockquote></p><p> While the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.</p><p><blockquote>虽然该公司报告的收入增长率肯定值得检查，但许多投资者可能想到的一个更大的问题是，该股今天是否值得买入。</blockquote></p><p> While it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.</p><p><blockquote>虽然无法知道这家电子商务巨头的股价在短期内甚至在该公司第三季度财报发布后将走向何方，但投资者可以看看亚马逊股票的估值，看看它相对于亚马逊股票的估值是否具有吸引力。这家电子商务巨头的长期潜力。</blockquote></p><p> Despite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.</p><p><blockquote>尽管该公司的市值超过1.7万亿美元，令人震惊，但在这个水平上，股票看起来值得买入。考虑到亚马逊约60的市盈率实际上相当便宜，考虑到该公司的营收表现和稳步扩大的营业利润率。</blockquote></p><p> With strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.</p><p><blockquote>凭借强劲的收入增长和不断扩大的营业利润率，亚马逊的商业模式正在展现出巨大的运营杠杆。这意味着从长远来看，每股收益的增长可能会快于收入的增长。事实上，分析师们的预期正是如此。目前评级分析师普遍预测，未来五年亚马逊每股收益将以平均年化37%的速度增长。</blockquote></p><p> Given management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.</p><p><blockquote>鉴于管理层对第三季度收入强劲两位数增长的指导——尽管亚马逊面临着与去年同期的艰难比较——以及该公司明确的运营杠杆，亚马逊股票今天看起来是一个不错的长期买入。</blockquote></p><p> Of course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.</p><p><blockquote>当然，投资者应该密切关注亚马逊的营收增长率。如果减速速度快于预期，这可能意味着分析师（和投资者）高估了该公司的长期潜力。</blockquote></p><p> Amazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.</p><p><blockquote>亚马逊第三季度报告定于10月28日星期四收盘后发布。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/21/is-amazon-stock-a-buy-ahead-of-earnings/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.fool.com/investing/2021/10/21/is-amazon-stock-a-buy-ahead-of-earnings/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126974417","content_text":"Earlier this year,Amazon.com(NASDAQ:AMZN)made the surprise announcement that founder Jeff Bezos would step down from his position as CEO of the company starting in Q3 2021. Andy Jassy, who previously led the company's fast-growing cloud computing business, would take the reins, Amazon said.\nWith Bezos' class act to live up to, the pressure is on. Investors will get to see how well the company performed under Jassy's leadership during his first inaugural quarter as the company's CEO next week when the e-commerce giant reports third-quarter results.\nAhead of Amazon's important third-quarter update, here's a preview of the earnings report, as well as a look at whether the growth stock may be attractive going into the update.\nAmazon earnings: what to watch\nWhen the e-commerceand cloud-computing specialist reports earnings next Thursday, investors will be watching closely to see how well Amazon can measure up to a tough year-ago comparison, when revenue was surging as many consumers around the world were sheltering at home.\nIn Amazon's second-quarter earnings release, management guided for third-quarter revenue to be between $106 billion and $112 billion. This translates to a revenue growth rate of 10% to 16% -- a significant slowdown from 27% growth in the prior quarter and 37% growth in the year-ago quarter.\nAnalysts seem largely convinced that the midpoint of Amazon's guidance range was too conservative. On average, analysts are forecasting third-quarter revenue to be at the high end of the company's guidance range.\nIs Amazon stock a buy today?\nWhile the company's reported revenue growth rate will certainly be worth checking on, a bigger question likely on many investors' minds is whether the stock is a good buy today.\nWhile it's impossible to know where shares of the e-commerce giant will move in the near term or even after the company's third-quarter earnings report is released, investors can take a look at Amazon stock's valuation to see if it seems attractive relative to the e-commerce giant's long-term potential.\nDespite the company's staggering market capitalization of more than $1.7 trillion, a case can be made for shares looking like a good buy at this level. Consider that Amazon's price-to-earnings ratio of about 60 is actually quite cheap given the company's top-line performance and its steadily expanding operating margin.\nWith strong revenue growth and a widening operating margin, Amazon's business model is demonstrating significant operating leverage. This means earnings per share could grow faster than revenue over the long haul. In fact, analysts expect exactly that. The consensus analyst forecast currently calls for Amazon's earnings per share to increase at an average annualized rate of 37% over the next five years.\nGiven management's guidance for robust double-digit third-quarter revenue growth -- even as Amazon faces a tough year-ago comparison -- and the company's clear operating leverage, Amazon shares look like a good long-term buy today.\nOf course, investors should watch Amazon's revenue growth rate closely. If it decelerates faster than expected, this could mean analysts (and investors) are overestimating the company's long-term potential.\nAmazon's third-quarter report is scheduled for Thursday, Oct. 28, after market close.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1067,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853092918,"gmtCreate":1634740139470,"gmtModify":1634764484238,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853092918","repostId":"1152302737","repostType":4,"repost":{"id":"1152302737","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634736641,"share":"https://www.laohu8.com/m/news/1152302737?lang=zh_CN&edition=full","pubTime":"2021-10-20 21:30","market":"us","language":"en","title":"U.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1152302737","media":"Tiger Newspress","summary":"(Oct 20) Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected","content":"<p>(Oct 20)&nbsp;Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.</p><p><blockquote>（10月20日）股市周三小幅走高，投资者看到一批强于预期的盈利结果，对企业利润轨迹越来越乐观，即使面临持续的供应链限制。</blockquote></p><p> The S&amp;P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.</p><p><blockquote>标普500开盘后上涨约0.2%。该蓝筹股指数周二连续第五个交易日收高，创下自8月份以来最长的连涨纪录。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc股价下跌19.3%，此前Politico的一份报告称，该公司在证明其能够生产符合监管机构质量标准的实验性COVID-19疫苗方面面临重大障碍，导致生产延迟。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a1d075d53e550deb563849714e43b3b\" tg-width=\"1048\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the <a href=\"https://laohu8.com/S/BITO\">ProShares Bitcoin Strategy ETF</a> (BITO), rose by nearly 5% in its public debut on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange on Tuesday.</p><p><blockquote>比特币（BTC）价格升至64,000美元以上，收于历史新高。在有史以来第一只比特币期货交易所交易基金（或<a href=\"https://laohu8.com/S/BITO\">ProShares比特币策略ETF</a>（BITO）在上市时上涨近5%<a href=\"https://laohu8.com/S/NWY\">纽约</a>周二证券交易所。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NFLX\">Netflix</a> fell in early trading despite posting&nbsp;third-quarter earnings and subscriber growth&nbsp;that exceeded Wall Street's expectations. <a href=\"https://laohu8.com/S/UBNK\">United</a> <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss&nbsp;and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>尽管公布的第三季度收益和用户增长超出了华尔街的预期，但早盘交易仍下跌。<a href=\"https://laohu8.com/S/UBNK\">团结的</a><a href=\"https://laohu8.com/S/AIRI\">空气</a>Lines(UAL)的季度亏损小于预期，收入超出预期，但仍比2019年水平低约32%，该公司股价上涨。</blockquote></p><p> These better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter &amp; Gamble and Johnson &amp; Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been nervously monitoring&nbsp;inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.</p><p><blockquote>除了上周大银行以及本周早些时候宝洁和强生等早期记者发布的财报之外，这些好于预期的财报结果有助于缓解交易员对企业利润在第二季度飙升后将大幅放缓的担忧。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>我一直在紧张地监测通胀数据，这些数据显示价格出现了几十年来的最大涨幅，此外还有大量有关劳动力和材料持续短缺以及交付问题的报道。所有这些因素预计都将严重影响企业利润。</blockquote></p><p> \"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like <a href=\"https://laohu8.com/S/QTWO\">Q2</a> was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"</p><p><blockquote>BMO资本市场高级投资策略师Jon Adams对雅虎财经直播表示：“我们认为投资者对盈利预期过于悲观。看起来确实像<a href=\"https://laohu8.com/S/QTWO\">Q2</a>可能是峰值，但第三季度将会强劲，同比[增长]可能会超过30%。”</blockquote></p><p> \"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"</p><p><blockquote>“我们认为这种强势将持续到第四季度，我们并不过度担心利润率，”亚当斯补充道。“我们正在密切关注供应链问题和不断增加的工资压力，但仍然认为利润率处于健康水平，并且还有更多上涨空间。”</blockquote></p><p> Other pundits also suggested price pressures may begin to ease over the coming quarters.</p><p><blockquote>其他专家还表示，未来几个季度价格压力可能会开始缓解。</blockquote></p><p> \"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management,&nbsp;told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"</p><p><blockquote>摩根大通资产管理公司全球市场策略师米拉·潘迪特(Meera Pandit)对雅虎财经直播表示：“我确实认为，随着这些供应链问题在2022年得到缓解，我们也将开始看到通胀从较高水平放缓。”“这不会完全是暂时的。像住房、像食品这样的东西——我们已经看到工资上涨了一点。因此，我们将看到比上次扩张期间更高的通胀。但它会从这些水平下降和缓和。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock market opens tentatively higher ahead of Fed Beige Book<blockquote>美联储褐皮书发布前美国股市试探性高开</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-20 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 20)&nbsp;Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.</p><p><blockquote>（10月20日）股市周三小幅走高，投资者看到一批强于预期的盈利结果，对企业利润轨迹越来越乐观，即使面临持续的供应链限制。</blockquote></p><p> The S&amp;P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.</p><p><blockquote>标普500开盘后上涨约0.2%。该蓝筹股指数周二连续第五个交易日收高，创下自8月份以来最长的连涨纪录。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc股价下跌19.3%，此前Politico的一份报告称，该公司在证明其能够生产符合监管机构质量标准的实验性COVID-19疫苗方面面临重大障碍，导致生产延迟。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a1d075d53e550deb563849714e43b3b\" tg-width=\"1048\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Bitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the <a href=\"https://laohu8.com/S/BITO\">ProShares Bitcoin Strategy ETF</a> (BITO), rose by nearly 5% in its public debut on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange on Tuesday.</p><p><blockquote>比特币（BTC）价格升至64,000美元以上，收于历史新高。在有史以来第一只比特币期货交易所交易基金（或<a href=\"https://laohu8.com/S/BITO\">ProShares比特币策略ETF</a>（BITO）在上市时上涨近5%<a href=\"https://laohu8.com/S/NWY\">纽约</a>周二证券交易所。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/NFLX\">Netflix</a> fell in early trading despite posting&nbsp;third-quarter earnings and subscriber growth&nbsp;that exceeded Wall Street's expectations. <a href=\"https://laohu8.com/S/UBNK\">United</a> <a href=\"https://laohu8.com/S/AIRI\">Air</a> Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss&nbsp;and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>尽管公布的第三季度收益和用户增长超出了华尔街的预期，但早盘交易仍下跌。<a href=\"https://laohu8.com/S/UBNK\">团结的</a><a href=\"https://laohu8.com/S/AIRI\">空气</a>Lines(UAL)的季度亏损小于预期，收入超出预期，但仍比2019年水平低约32%，该公司股价上涨。</blockquote></p><p> These better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter &amp; Gamble and Johnson &amp; Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been nervously monitoring&nbsp;inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.</p><p><blockquote>除了上周大银行以及本周早些时候宝洁和强生等早期记者发布的财报之外，这些好于预期的财报结果有助于缓解交易员对企业利润在第二季度飙升后将大幅放缓的担忧。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>我一直在紧张地监测通胀数据，这些数据显示价格出现了几十年来的最大涨幅，此外还有大量有关劳动力和材料持续短缺以及交付问题的报道。所有这些因素预计都将严重影响企业利润。</blockquote></p><p> \"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like <a href=\"https://laohu8.com/S/QTWO\">Q2</a> was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"</p><p><blockquote>BMO资本市场高级投资策略师Jon Adams对雅虎财经直播表示：“我们认为投资者对盈利预期过于悲观。看起来确实像<a href=\"https://laohu8.com/S/QTWO\">Q2</a>可能是峰值，但第三季度将会强劲，同比[增长]可能会超过30%。”</blockquote></p><p> \"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"</p><p><blockquote>“我们认为这种强势将持续到第四季度，我们并不过度担心利润率，”亚当斯补充道。“我们正在密切关注供应链问题和不断增加的工资压力，但仍然认为利润率处于健康水平，并且还有更多上涨空间。”</blockquote></p><p> Other pundits also suggested price pressures may begin to ease over the coming quarters.</p><p><blockquote>其他专家还表示，未来几个季度价格压力可能会开始缓解。</blockquote></p><p> \"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management,&nbsp;told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"</p><p><blockquote>摩根大通资产管理公司全球市场策略师米拉·潘迪特(Meera Pandit)对雅虎财经直播表示：“我确实认为，随着这些供应链问题在2022年得到缓解，我们也将开始看到通胀从较高水平放缓。”“这不会完全是暂时的。像住房、像食品这样的东西——我们已经看到工资上涨了一点。因此，我们将看到比上次扩张期间更高的通胀。但它会从这些水平下降和缓和。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152302737","content_text":"(Oct 20) Stocks traded slightly higher Wednesday as investors eyed a batch of stronger-than-expected earnings results with increasing optimism over the trajectory of corporate profits, even in the face of ongoing supply chain constraints.\nThe S&P 500 gained about 0.2% just after the opening bell. The blue-chip index closed out a fifth straight session in positive territory on Tuesday, marking its longest winning streak since August.\nShares of Novavax Inc fell 19.3% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators’ quality standards, resulting in production delays.\n\nBitcoin (BTC) prices rose above $64,000 and closed in on an all-time high. The cryptocurrency held onto gains from earlier this week, after the first-ever Bitcoin futures exchange-traded fund, or the ProShares Bitcoin Strategy ETF (BITO), rose by nearly 5% in its public debut on the New York Stock Exchange on Tuesday.\nShares of Netflix fell in early trading despite posting third-quarter earnings and subscriber growth that exceeded Wall Street's expectations. United Air Lines (UAL) shares rose after the carrierdelivered a smaller-than-expected quarterly loss and revenue that topped expectations, albeit while remaining some 32% below 2019 levels.\nThese better-than-feared earnings results — in addition to those from earlier reporters including the big banks last week, and Procter & Gamble and Johnson & Johnson earlier this week — have helped assuage traders' concerns that corporate profits would slow dramatically after a second-quarter surge. Investors have been nervously monitoring inflation data showing prices jumping by the most in decades, on top of a myriad reports over persistent labor and materials shortages and delivery issues. All of these factors were expected to weigh heavily on corporate profits.\n\"We think investors have been too pessimistic on earnings expectations,\" Jon Adams, BMO Capital Markets senior investment strategist,told Yahoo Finance Live.\"It does look like Q2 was likely the peak, but Q3 is going to be strong, probably above 30% year-over-year [growth].\"\n\"We think the strength will continue into the fourth quarter, we're not overly concerned about profit margins,\" Adams added. \"We are closely monitoring supply chain issues and increasing wage pressures but still think that profit margins are at healthy levels, and that there's more upside to come.\"\nOther pundits also suggested price pressures may begin to ease over the coming quarters.\n\"I do think that as these supply chain issues subside throughout the course of 2022, we're also going to start to see inflation moderate from these elevated levels,\" Meera Pandit, global market strategist at JPMorgan Asset Management, told Yahoo Finance Live. \"It won't be completely transitory. Things like housing, things like food – we've seen wages come a little bit higher. So we're going to see higher inflation than we did during the last expansion. But it's going to come down and moderate from these levels.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826783647,"gmtCreate":1634053896235,"gmtModify":1634089006564,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/826783647","repostId":"1160581040","repostType":4,"repost":{"id":"1160581040","kind":"news","pubTimestamp":1634042129,"share":"https://www.laohu8.com/m/news/1160581040?lang=zh_CN&edition=full","pubTime":"2021-10-12 20:35","market":"us","language":"en","title":"Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160581040","media":"Barrons","summary":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to ","content":"<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnother Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-12 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160581040","content_text":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.\nReports from S&P 500 companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from Delta Air Lines (DAL),Walgreens Boots Alliance (WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase & Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.\nAnalysts are forecasting aggregate earnings per share on the S&P 500 to grow 24.5%, according to S&P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.\nNo matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.\nThat won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.\n“We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.\nEarnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.\nThe good news? The S&P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.\nThe question is whether it’s enough.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821894179,"gmtCreate":1633717952799,"gmtModify":1633744975730,"author":{"id":"4095222842422150","authorId":"4095222842422150","name":"aiyoh79","avatar":"https://static.tigerbbs.com/8b4d6ba5b13f7e724af3472b596ca6ac","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4095222842422150","idStr":"4095222842422150"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821894179","repostId":"1127521584","repostType":4,"repost":{"id":"1127521584","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633703837,"share":"https://www.laohu8.com/m/news/1127521584?lang=zh_CN&edition=full","pubTime":"2021-10-08 22:37","market":"fut","language":"en","title":"WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127521584","media":"Tiger Newspress","summary":"(Oct 8) WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.\nOil hit $80p","content":"<p>(Oct 8)&nbsp;WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.</p><p><blockquote>（10月8日）WTI原油期货自2014年11月以来首次触及80美元/桶以上的盘中高点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0184d41d2db5d0371cff154c599850dd\" tg-width=\"814\" tg-height=\"404\" referrerpolicy=\"no-referrer\">Oil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.</p><p><blockquote>周五，油价触及每桶80美元，创七年新高，有可能进一步提高数百万美国人在加油站和今年冬季供暖季节的能源成本。</blockquote></p><p> NYMEX crude has gained over 60% this year.</p><p><blockquote>纽约商业交易所原油今年已上涨超过60%。</blockquote></p><p> Brent, the global benchmark, hit the $83 level and has gained over 58% this year.</p><p><blockquote>全球基准布伦特原油触及83美元水平，今年已上涨超过58%。</blockquote></p><p> In addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.</p><p><blockquote>除了打击消费者之外，原油价格上涨进一步反映了美国作为全球能源领导者的落后程度。</blockquote></p><p> \"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.</p><p><blockquote>“我们成为世界上最大的石油和天然气生产国，比沙特阿拉伯还大，比俄罗斯还大。这对美国和美国人民来说是一项重要的成就，在如此短的时间内扭转了这一局面，这确实令人震惊，”特朗普总统领导下的美国前能源部长丹·布鲁耶特在接受福克斯商业频道拉里·库德洛采访时说道。</blockquote></p><p> OPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.</p><p><blockquote>尽管疫情持续反弹和美国压力导致需求上升，但欧佩克最近仍将产量维持在当前水平。</blockquote></p><p> Prices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.</p><p><blockquote>根据AAA，加油站价格达到每加仑3.26美元，为2014年10月以来的最高水平。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014<blockquote>WTI原油期货自2014年11月以来首次触及80美元/桶上方的盘中高点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-08 22:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 8)&nbsp;WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.</p><p><blockquote>（10月8日）WTI原油期货自2014年11月以来首次触及80美元/桶以上的盘中高点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0184d41d2db5d0371cff154c599850dd\" tg-width=\"814\" tg-height=\"404\" referrerpolicy=\"no-referrer\">Oil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.</p><p><blockquote>周五，油价触及每桶80美元，创七年新高，有可能进一步提高数百万美国人在加油站和今年冬季供暖季节的能源成本。</blockquote></p><p> NYMEX crude has gained over 60% this year.</p><p><blockquote>纽约商业交易所原油今年已上涨超过60%。</blockquote></p><p> Brent, the global benchmark, hit the $83 level and has gained over 58% this year.</p><p><blockquote>全球基准布伦特原油触及83美元水平，今年已上涨超过58%。</blockquote></p><p> In addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.</p><p><blockquote>除了打击消费者之外，原油价格上涨进一步反映了美国作为全球能源领导者的落后程度。</blockquote></p><p> \"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.</p><p><blockquote>“我们成为世界上最大的石油和天然气生产国，比沙特阿拉伯还大，比俄罗斯还大。这对美国和美国人民来说是一项重要的成就，在如此短的时间内扭转了这一局面，这确实令人震惊，”特朗普总统领导下的美国前能源部长丹·布鲁耶特在接受福克斯商业频道拉里·库德洛采访时说道。</blockquote></p><p> OPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.</p><p><blockquote>尽管疫情持续反弹和美国压力导致需求上升，但欧佩克最近仍将产量维持在当前水平。</blockquote></p><p> Prices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.</p><p><blockquote>根据AAA，加油站价格达到每加仑3.26美元，为2014年10月以来的最高水平。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRUD.UK":"WTI原油ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127521584","content_text":"(Oct 8) WTI oil futures tap intraday high above $80/bbl for first time since Nov. 2014.\nOil hit $80per barrel on Friday, a seven-year, high threatening to raise energy costs further for millions of Americans at the gas pump and this winter heating season.\nNYMEX crude has gained over 60% this year.\nBrent, the global benchmark, hit the $83 level and has gained over 58% this year.\nIn addition to hitting consumers, higher crude prices are a further reflection of how the U.S. is falling behind as a global energy leader.\n\"We became the largest producer of oil and gas in the world, were larger than Saudi Arabia, were larger than Russia. And that was an important accomplishment for America and for the American people to have that reversed in so short a time, it is indeed shocking,\" said Dan Brouillette, former U.S. Energy Secretary under President Trump during an interview with FOX Business' Larry Kudlow.\nOPEC recently kept production at current levels, despite rising demand from the ongoing pandemic rebound and pressure from the U.S.\nPrices at the pump hit $3.26 per gallon, per AAA, the highest since October of 2014.","news_type":1,"symbols_score_info":{"CLmain":0.9,"CRUD.UK":0.9,"MCLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}